This in response to changing customer behaviours
In response to evolving customer behaviors, ASB Bank has revealed plans to close four Auckland branches by the end of February, along with the permanent closure of its Willis St branch in Wellington.
Adam Boyd (pictured above), ASB’s executive general manager of personal banking, said the bank is increasing its investments in digital and phone banking due to higher demand, redirecting more staff to bustling branches, including Albany, Takapuna, Pukekohe, Warkworth, and Lambton Quay.
“Over the past four years, we have seen customer visits to the branches we are closing steadily decline, with one of our quietest branches seeing an average of just 14 customers through the door each day,” Boyd told Stuff.
According to the ASB leader, Milford experienced an 83% decline in branch counter transactions from 2019 to 2023. During the same period, Wellsford saw a 92% decrease, Waiuku experienced an 89% drop, Mangere Bridge recorded a 92% reduction, and transactions at Willis St plummeted by 91%.
Customer support and communication
Acknowledging the impact on customers who still visit the closing branches, Boyd said the bank was committed to supporting them through the transition.
“We will reach out to customers who regularly use these branches to let them know about these changes and how we will support them through the transition,” he said.
“Members of our business banking and community banking teams will be on the ground in these branches to help support with the transition, and we will work closely with customers who may need extra support, including engaging with Age Concern to offer workshops to its members.”
Boyd said the closures would result in ASB having 80 branches nationwide.
The bank plans substantial investments in digital banking channels over the next five years, with a focus on enhancing its mobile app.
Affected staff members will be provided with alternative positions within ASB, ensuring continuity and support during the transition, Stuff reported.
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