UBank launch Wednesday, 1 October 2008 National Australia Bank announced today it had taken a step to progress its development of new distribution channels, products and services with the establishment of UBank, a new direct channel offering, focused on savings products. As the first brand in NAB’s Star Direct & Marketing division, UBank will launch with term deposits and over time, will add a range of additional savings, transaction and investment products. UBank products will have highly competitive rates and no application or overdrawing fees. Greg Sutherland, Executive General Manager, Star Direct & Marketing, said UBank would be the first brand in NAB’s Star Direct & Marketing division. “UBank will allow us to compete for the ‘self serve banking’ customer segment. UBank has been designed for customers wanting an easy-to-use online and telephone banking service. Note to Editor: Consumers wishing to contact UBank can visit the website at www.ubank.com.au or call 13 30 80 from 1 October 2008.
UBank to launch mobile banking this year NAB online banking offshoot UBank, which set up a five minute online savings account last August, plans to offer its first mobile banking service later this year. According to Gerd Schenkel, UBank general manager, while the organisation is now 'writing positive income and working toward becoming cash positive' - which is banker-speak for 'we haven't quite got back what we invested in setting up UBank' - the organisation was already looking at additional products to offer online, and also at new distribution channels. 'Mobile is probably the next step for us. There will be a mobile platform sometime this year as we follow customer demand,' said Schenkel. Users should not however expect a cut down version of the UBank website for phones, as Schenkel stressed that UBank did not plan 'to migrate the website to a Blackberry or iPhone. The bank would then develop a service to meet that requirement.
Westpac Things you should know This information has been prepared by Westpac Banking Corporation ABN 33 007 457 141, AFSL 233714 ('Westpac'). The exchange rates provided are indicative only as at the time and date shown, are subject to market movements and therefore change continuously; they should not be relied upon as an accurate representation of any final pricing. For further enquiries relating to foreign exchange please visit your local branch, contact your Westpac Relationship Manager or alternatively call 1800 244 313. This information has been prepared without taking account of your objectives, financial situation or needs.
PwC HSBC Bank - Credit Cards, Savings, Home Loans, more | HSBC Australia UBank fact sheet June 2009 30 June 2009 Who and What is UBank? UBank is a direct bank with products designed to be sold and serviced exclusively over the telephone and the internet UBank is a division of NAB Personal Banking and operates under NAB's banking license. UBank can be contacted on 13 30 80 or via www.ubank.com.au Why UBank? As part of NAB Personal Banking's multi brand and multi channel strategy, UBank is aimed at self directed customer segments that prefer to manage their own finances rather than seek advice UBank is complementary to NAB's broader, full service offering, along with the mortgage broker business NAB Broker UBank delivers high quality customer service through its dedicated call centre in Sydney as well as its own website, www.ubank.com.au Key Achievements: UBank's initial offering of personal term deposits has enjoyed strong consumer interest with sales performance above expectations UBank expanded its product set in February 2009 to also serve self managed super funds What’s next:
Best of the Best: Banking outlook for 2010 Best of the Best is all about sorting out the best financial products and services – to help you make the most of your finances. It helps too to sum up the year’s banking highlights, so here’s a snapshot. Interest rates hit a 40-year low – this time back in 2007 repayments on a $300,000 mortgage were $2329, today they’re just $1937, a saving of over $350 a month. The cash rate plunged to 3%, yet throughout the year online savings accounts paying more than 4% were easy to find. And while indeed there’s no such thing as a free lunch, fee-free everyday banking looks like it has arrived. That’s the good news, now it’s time to check out the potentially bad. The Westpac/St George and Commonwealth Bank/Bankwest mergers see the two majors controlling almost half of all outstanding Australian mortgages by value. Research outfit Core Data principal Andrew Inwood says this is not good for competition. For the exception, see this year’s banking Best Online Savings Account winner UBank. Inwood says no.
Lateline Business - 24/10/2011: Bendigo warns of internet challenge to banking Australian Broadcasting Corporation Broadcast: 24/10/2011 Reporter: Emily Stewart The Bendigo and Adelaide bank has warned shareholders at its annual general meeting they face challenges including internet-based banking and billing technology from internet search giant Google. TICKY FULLERTON, PRESENTER: The internet search giant Google is among a number of companies hoping to cut a big slice from the profits of Australian banks. They hope to win customers over with new and cheaper internet-based technology to pay bills and do banking. The Bendigo and Adelaide Bank held its AGM today with management warning that was just one of the challenges facing the banking industry. Emily Stewart reports. EMILY STEWART, REPORTER: The Australian banking sector can't hide from events in Europe, but with no direct involvement in wholesale markets, the Bendigo and Adelaide Bank has fared better than most. MIKE HIRST, MD, BENDIGO & ADELAIDE BANK: Our new ratings position the bank well for future growth.
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