Whangamatā will be the recipient of a new regional banking hub concierge service. Photo / Jonathan Clark
Whangamatā will be the recipient of a new regional banking hub concierge service. Photo / Jonathan Clark
The Regional Banking Hubs trial is expanding, and Whangamatā is to get a new hub.
The trial, which involves six major banks, has been extended on the back of positive responses from the markets in which the hubs were implemented. The trial’s criteria includes towns with more than 3000 people who are at least 30 minutes drive from an existing bank branch.
The hubs are a joint initiative by the six biggest retail banks in New Zealand, which initiated the trial that launched in November 2020 after complaints were received from people in small towns who had been left with no banking services after satellite branches were closed.
Under one roof, services provided at the hubs to their customers include deposits and withdrawals, phone and internet banking, and the ability to meet with a representative from a person’s bank.
The banks have also promised not to close any more regional branches until the end of 2023.
In a release, the New Zealand Bankers’ Association said the four new hubs will be in Whangamatā, Ōpōtiki, Tūrangi and Waimate, subject to consultation with the communities, and are expected to open by the middle of 2023.
Roger Beaumont, chief executive of the New Zealand Bankers Association. Photo / Dean Purcell
The new hubs will have a Smart ATM and full cash change services, a fulltime dedicated concierge, who plays a vital role in assisting customers, an employee from each bank available on site for a few hours on separate weekdays, as well as a private meeting room, and areas for phone and internet banking.
Roger Beaumont, chief executive of the New Zealand Bankers’ Association, said the trial and associated research had provided extremely useful insights into regional banking, despite significant changes in customer banking behaviour and Covid-19 alert level interruptions.
“The past 12 months have been a difficult time to run a trial, with major changes in customer behaviour accelerated by the Covid-19 pandemic and regular changes in alert levels. We intend to run the next phase until the end of 2023, to give these dynamic changes time to pan out,” Beaumont said.
“We are excited about bringing a banking hub to Whangamatā as part of our trial to test new banking services in towns that no longer support branches. We’re aiming to launch the hub next month,” he added.
“Our six largest banks are participating in the trial - ASB, ANZ, BNZ, Kiwibank, TSB and Westpac.
“We’ve learnt some lessons from the first phase of the trial. The new hub in Whangamatā will be located in a stand-alone location and have a multi-bank Smart ATM and a coin and note change service. A concierge will be available to assist customers access the services, which include an ATM, tablet for online banking, and phone. These services will be available in private areas to help ensure confidentiality.
“We’re also introducing a banking advice service, where you can book a meeting with someone from your own bank. A banker from each participating bank will be available onsite at certain times during the week.
“The location and opening hours will be confirmed closer to the hub opening.”
