Bank Workers Worried About Customer Debt Levels

Bank Workers Worried About Customer Debt Levels

New results from a Trans-Tasman banking survey show bank staff are uncomfortable about their customers’ ability to meet the financial obligations of the products they are made to sell them.

The findings are contained in the results of Trans-Tasman public polling of bank workers conducted by Finsec and the Finance Sector Union in Australia of bank customers and workers. The customer results were released last month.

“These results call into question the target systems banks operate given that a quarter of respondents are not comfortable their customers can meet their obligations in relation to the products they are made to sell them,” said Finsec Campaigns Director Andrew Campbell.

“It is clearly time for the banks to reconsider their target systems when both customers and workers say they don’t want secret sales targets,” said Campbell.

Other survey results highlighted issues of understaffing in the industry. 63% of respondents think their worksite doesn’t have enough staff and 43% think customer service has got worse.

“Bank workers want to offer customers top rate service. But their targets and chronic understaffing constantly get in the way. Despite the banks making millions most keep cutting staff numbers and have also looked to offshore New Zealand jobs,” said Campbell.

“Investing some of their massive profits into local jobs and committing to ethical lending practises would be two simple steps the banks could take to turn around negative customer and worker perceptions of them,” said Campbell.

“The survey findings endorse the call both locally and internationally for a major rethink of how banks operate. Banks need to work out how they can better support their customers, workers and the economy,” sad Campbell

Key survey results are below. For the full report contact Andrew Campbell on the numbers below for an electronic version to be sent through.

ENDS

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