Providing positive and appropriate customer outcomes underpins our approach to banking, that can make a ‘big difference’ to our customers. Our customers’ expectations are evolving, and we aim to continue to meet their expectations by delivering personal, timely and relevant customer support.

  • Launch of new mobile banking app with enhanced functionality.
  • Continuous improvement of loan process to make it simpler and faster through the auto decisioning of loans, digital documentation and robotic processes.
  • Digital verification of identify services.
  • Simplified customer guides to assist those buying, refinancing, building or renovating their homes.
  • All lending letters were enhanced by the introduction of clear and simple language.

We realise the benefit of strong customer advocacy and we will be measuring the level of this advocacy via a Net Promotor Score (NPS).

Working with mortgage brokers has been an important part of our growth story in recent years and a key contributor to growth through our brokers is improving advocacy. Each year Momentum Intelligence complete their Third-Party Lending report comparing lenders on performance across many categories important to them.

Becoming a simple and intuitive bank is key to our strategy and this includes a strategy to simplify our product portfolio and create transparency around our products.

Key focuses includes:

  • Simplification to ensure better customer choice and decision making while continuing to meet core needs.
  • Reduce the number and complexity of management and administration processes and allow people to become subject matter experts on chosen products.

This year we continued our program of winding up products that are no longer supported and migrating those customers to our current product set in a fair way. This program reduces complexity to ensure a better customer experience.

We also delivered enhancements to our product governance including implementing policies, processes and reporting to meet product Design and Distribution Obligations.

In addition, we reviewed, updated and reissued a range of product terms and conditions in order to simplify, assist customers with understanding and to remove any potential terms that might have been considered unfair.

Lending responsibly is a top priority and we demonstrate our commitment to this principle by ensuring affordability, transparency of terms and conditions, and, where needed, support for borrowers in financial hardship.

We comply with regulatory guidance and continually evolve internal credit policies and frameworks to uphold best practice and deliver responsible customer outcomes.

Listening to and responding to customers’ concerns and complaints helps us to continually improve our Bank. Early capture and the reporting of complaints internally continues to support the early identification of trends and issues that may require broader resolution or remediation. We strive for a transparent and accessible complaint management process and communications.

This year, the number of recorded complaints was 495, compared with 208 in 2021*. Our total customer complaints as a percentage of total customers remains low at 0.58%.

A speedy response is important, and we continued to resolve our customers’ issues quickly; 84% of all complaints were immediately resolved, and an average time to resolve complaints was 9 days. Of total complaints, 24 were referred to the Australian Financial Complaints Authority (AFCA), which speaks to the efficiency and efficacy of our resolution process.

*As of year ending 2022

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