Guidelines To Help Banks Serve Customer Needs Launched

Published: Thu 1 Oct 2020 10:49 AM
The New Zealand Bankers’ Association today launched guidelines to help banks serve customer needs.
“The guidelines are designed to help bank staff deliver good customer outcomes. They build on the banking industry’s work following the Bank Conduct and Culture Review in 2018. They also reflect the Financial Markets Authority’s expectation that banks will serve customer needs. It’s all about making sure we continue to do the right thing by our customers,” says New Zealand Bankers’ Association chief executive Roger Beaumont.
“Customers are at the heart of banking and it’s important for banks to be clear on how they can best meet their customers’ needs.
“The guidelines set out six commitments that banks make to their customers, and how they will meet those commitments.”
The guidelines outline how banks will:Treat their customers fairlyRecognise and prioritise customer interestsGive customers clear, concise and effective informationDesign and provide products that meet customer needsProvide good customer careIdentify, fix and learn from their mistakes.
“These were all identified in the conduct and culture review as areas where banks could show they were prioritising their customers.
“We worked with our member banks to develop these guidelines. We also consulted the FMA. In working closely with these stakeholders, we think we’ve come up with practical guidance in clear language that will help banks continue to deliver the good customer outcomes we all expect today,” Beaumont says.
The Banking Ombudsman, Nicola Sladden, says “I see these guidelines as a positive step. They support banks to meet their obligations under the Code of Banking Practice, and achieve better outcomes for their customers.”
The new guidelines flow from the high level commitments banks make to their customers in the Code of Banking Practice, and are designed to sit with the guidelines to help banks meet the need of older and disabled customers published last year.
The guidelines to help banks serve customer needs are available here:

Next in Business, Science, and Tech

Largest Drop In Terms Of Trade In A Decade As Dairy Export Prices Sour
By: Statistics New Zealand
Election Boosts October Job Numbers
By: Statistics New Zealand
New Year Border Exception For Seasonal Workers In The Horticulture And Wine Industries
By: New Zealand Government
Discovery, Inc. Completes Acquisition Of New Zealand’s Mediaworks TV Ltd
By: Discovery
Big Year Underway At Albatross Colony
By: Department of Conservation
ASB Survey Reveals Majority Of Kiwis Expect House Prices To Keep Climbing
Births And Deaths: Year Ended September 2020
By: Statistics New Zealand
NZ Economy Holding Up Well Amongst The Developed World, Forecast To Finish The Year Down 3% On 2019
Govt Goes “hard And Early” On RSE Workers
By: ACT New Zealand
Bringing RSE Workers Back The Right Move
By: Business NZ
Cream Of The Crop Will Get To Market
By: Auckland Business Chamber
Horticulture Industry Appreciates Government’s Decision On RSE Workers
By: Horticulture NZ
Skyrocketing house prices: Economist says Reserve Bank, govt, trying to address pandemic
NZ Govt Considers Making House Prices Part Of RBNZ Mandate
By: XE Money Transfer
Māori Population Estimates: At 30 June 2020
By: Statistics New Zealand
View as: DESKTOP | MOBILE © Scoop Media