FinTech Magazine September 2019 | Page 133

CLICK TO WATCH : ‘ BANK OF NEW ZEALAND – WHAT ELLA WANTS ’ 133 for a different way to help BNZ stand out from the crowd . Instead of trying to simply improve the current paradigm of online banking , they went back to the drawing board and spent a significant amount of effort to decipher what customers really want from their bank . Whether trying to pay off a mortgage or saving for a wedding , most customers are trying to make their bank balances stretch to meet the needs of their daily lives . That spurred BNZ to make financial wellness a core mantra for the firm . “ At BNZ , our whole purpose is based around helping customers be
good with money , so they can do great things with it . Essentially , we want them to achieve better financial outcomes , however they define those outcomes for themselves ,” says Bowe .
With this in mind , BNZ created a brand new online banking platform called YouMoney , that specifically focused on helping customers manage their money more effectively . Customers can set up as many accounts or ‘ pots ’ as they want . They can then personalise them by adding photos and goals , as well as moving money effortlessly using a novel drag
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