Staff

Another successful year for Beyond Bank

It’s been another great year for the Beyond Bank Australia Group, with 2013/14 delivering strong results for our business, greater value to our customers, the introduction of new products and continued involvement in our communities.

Our after-tax profit of $23 million will continue to be reinvested back into the business to improve the value we return to our customers.

Our assets under management increased from $3.8 billion to $4.12 billion, and we lent a record amount to help our customers achieve their goals – up 10.6% to $708 million.

The growth we have experienced is a result of an unwavering commitment to returning value to our customers, and our determination that despite unpredictability within the economy, we have remained focussed on providing the best possible service and solutions to our customer owners.

Consistent with our strategy, we invested in our people with further leadership training and customer relationship programs, and we also established and resourced new business units in the areas of community development, digital consumer experience, product development and mobile consulting.

A review of our distribution channel resulted in the introduction of an alternative service model for some areas and investments in branch refurbishments to improve our in-branch customer experience.

We returned $31.8 million in value back to our customers, an increase of 22% on last year. This is the measure identified by Canstar, a specialist research service provider, which measures the monetary benefit that our customers receive by banking with us compared to if they were banking with one of the major banks. This equates to $162 per customer.

Consistent with our customer-first ethos, our customer satisfaction level rose from 95% to 95.9%, and is a testament to our loyal and dedicated staff who deliver the highest level of service to our customers.

Community is at the core of our organisation. As a customer-owned bank we’re committed to making a difference in the regions where we operate. Over the last year we have provided more than $1.98 million in value to local communities through the Beyond Bank Australia Foundation and our numerous other Community activities. Our Community Reward Account provided more than $239,000 to over 170 local charities, community groups and not?for-profits organisations across Australia.

As we look forward to another exciting and successful year with our owners – the 190,000 customers that choose to bank with us – we say thank you for your support.



Comments

  1. keh

    I have a few questions:

    1. Your words above… “A review of our distribution channel resulted in the introduction of an alternative service model for some areas and investments in branch refurbishments to improve our in-branch customer experience.”

    Could you please comment on how the in-branch customer experience will improve now that I can no longer do deposits at Sefton?

    2. Your words above… “our customer satisfaction level rose from 95% to 95.9%”.

    Which organisation measures your customer satisfaction?

    Will you provide them with names of customers who used to deposit at your Sefton Branch for your next satisfaction survey?

    Thanks

  2. Beyond Bank

    @Keh, thanks for your queries.

    We are adjusting our Sefton Plaza Branch model to reflect the changes in the personal finance sector, such as reduced in-branch activity and a continuing shift to remote channels (cards, ATMs, direct entry, online and telephone banking).

    We are implementing an alternative service model in locations where demand for ‘over-the-counter’ activity is very low, moving to a more personalised mobile services approach.

    Our Sefton Plaza and Mawson Lakes branches will be consolidated into a more modern branch located at Northpark Shopping Centre This new, state of the art facility will provide better transactional banking services for our customers.

    In regards to our customer satisfaction surveys, these are measured internally through regular surveys conducted by our Call Centre team. We have also recently conducted customer research via external companies ChantLink and ORIMA. We can certainly add you to our list if you would like to be included. Please email your contact and member details to ourcommunity@beyondbank.com.au ^Aimee

  3. keh

    Thanks for your reply Aimee

    “Alternative service model” – excuse my cynicism but this sounds like corporate speak for “less service”.
    I have another question. Won’t the “alternative service model” increase your cost for deposits? Presumably the post office you’re forcing me to go to won’t provide this service for free when you staff can do it as part of the activities you’re already paying them for.

    I’m staggered to learn that your Call Centre team runs your Customer Service surveys. It’s a well-known fact that internal surveys are biassed as customers are less likely to be candid / honest / share negative feedback with their service provider! There is also a lack of anonymity that an ethical third-party researcher provides. Little wonder you get big fat numbers like 95.9%. Sounds like a case of not letting the facts get in the way of a good (news) story.

  4. Beyond Bank

    @Keh, deposits at Australia Post outlets via Bank@Post attract a fee of $3 each, however they are included in your monthly fee allowance.

    As mentioned previously, we do conduct internal and external research to validate the findings of each and we use external companies to limit any bias. By conducting internal research we get an intimate understanding of what our customers feel and how they rate their experience with us, while the external research allows for anonymity.

    Our CEO, Robert Keogh, would happy to discuss this further with you if you would like to email your contact details to ourcommunity@beyondbank.com.au ^Aimee


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