Bankers scramble to launch online

By Richard Braddell

WELLINGTON - From this week WestpacTrust will be the only major bank without internet banking, after the ANZ and Bank of New Zealand both chose this week to launch their new services..

Internet banking came to New Zealand two years ago when ASB launched its internet bank, BankDirect, and Fastnet banking services.

But it has taken the rest of the industry time to catch up. ANZ this week began ANZ Internet Banking in what it said was the first step in delivering internet financial services to its one million New Zealand customers.

The service will be immediately available to the 550,000 customers who use ANZ's phone banking service, while other customers will have to visit the web site, or call a free phone number to register.

Among services, it will provide account balances, funds transfers between accounts and bill payments.

ANZ's announcement headed off a high-profile launch by the Bank of New Zealand at Auckland's Imax theatre.

National Bank has taken a low-key approach to its internet site, which is a rebranding a few months ago of a Countrywide Bank pilot that has been running since 1997.

Jane Anderson of WestpacTrust said it would not be launching until the first quarter of next year.

"We are going to be last but we like to think it will be different and it will be good when we deliver it."