One of the World’s Safest Banks Encourages Kiwis to Save Online
Wellington - Rabobank, one of the world’s safest banks, has launched an online banking service in New Zealand called
RaboPlus.
This move represents a significant expansion of Rabobank, the world’s leading food and agribusiness bank, into the
broader New Zealand financial services market. The bank, which has operated in New Zealand since 1994, is a major lender
to the country’s rural sector.
Designed to complement consumers’ existing banking arrangements, RaboPlus offers New Zealanders a high interest, no
fees, on-call savings account as well as term deposits and access to managed funds.
The RaboPlus savings account is currently paying interest of 7.35 per cent per annum on call.
Customers will access the online service using a two-factor security authentication process, which is the safest way to
bank online.
The Rabobank Group is the only banking group in New Zealand to have a AAA credit rating from Standard & Poor’s and Moody’s, the highest available - a reflection of the bank’s financial security. The Rabobank Group has been
rated twice (in 2004 and 2005) by Global Finance Magazine as one of the world’s safest banks.
Announcing the launch of RaboPlus today, Rabobank Australia and New Zealand CEO Bruce Dick said while Rabobank remains
firmly committed to the food and agribusiness sector, the new online service will broaden the bank’s activities into the
mainstream market.
“RaboPlus fits comfortably with Rabobank’s existing rural business. It leverages the formidable strengths of the global
Rabobank Group and offers New Zealanders the opportunity to deposit their funds with one of the strongest financial
institutions in the world,” he said.
Funds deposited with RaboPlus will be injected back into Rabobank’s lending activities in rural New Zealand.
RaboPlus New Zealand General Manager Mike Heath said RaboPlus offers New Zealanders an opportunity to bank with a
specialist focused on savings.
“RaboPlus will effectively be the bank you have on the side. It won’t replace your primary bank, but will offer savings
products with a competitive and attractive rate for serious savers and the financially savvy. The online structure means
we can keep running costs low and interest rates high,” he said.
Security is a strong feature of the new service. RaboPlus customers will be issued with a DigiPass – an internet
security token developed by security partners VASCO which must be used in conjunction with a personal identification
number (PIN) to access their account. The token generates a new one-time passcode every 36 seconds and, when combined
with the user’s PIN, creates a log-in combination that is valid only for that particular user at that moment in time.
VASCO’s systems are used by over 350 international financial institutions and some 1500 blue chip corporations and
governments located in more than 80 countries.
Mr Dick said the launch of RaboPlus in New Zealand was part of an ongoing move to build on the Rabobank Group’s global
strengths and make them available to local clients.
In recent years, the Rabobank Group has established successful direct banking businesses in Belgium and Ireland.
“In its home market of the Netherlands, Rabobank is the largest general financial services provider in the country. It
is also the largest online bank in Europe,” he said.
Established in the Netherlands in 1898 as a rural credit cooperative, today the Rabobank Group is still structured as a
cooperative bank and operates in 38 countries around the world.
The RaboPlus launch will be supported by a large-scale advertising campaign in television, print and online media across
New Zealand.
www.RaboPlus.co.nz
Rabobank New Zealand is part of the international Rabobank Group, the world’s leading specialist in food and
agribusiness banking. Rabobank has more than 100 years’ experience providing customised banking and finance solutions to
businesses involved in all aspects of food and agribusiness. Rabobank is the only privately-owned bank in the world with
the highest possible credit ratings from both Standard & Poor's (AAA) and Moody's Investor Service (Aaa), and is ranked the world's third safest bank by Global Finance
magazine*. Rabobank operates in 38 countries, servicing the needs of more than nine million clients worldwide through a
network of more than 1500 offices and branches. Rabobank is the 15th largest bank in the world based on tier one
capital. In New Zealand Rabobank employs 208 staff across 28 branches to service its rural clients. Thirteen staff,
including a Wellington based call centre, will support RaboPlus customers.