AUSTRALIA if their financial wellbeing is at stake Heritage would even do that . “ For us , being customer owned is not about sales but about delivering the best possible result for the customer ,” says Marchant . “ We are always looking into ways to improve their experience .” He has a keen interest in innovative technology being developed by ‘ fintechs ’, innovative startups in the sector among whom he likes to network at conferences and the meetups organised by the incubator hub Stone & Chalk .
Heritage is in a good position to leverage its customer-owned status . Public disquiet over large salaries and bonuses at the large banks could
move customers in the direction of the mutuals . “ It is our customers ’ money . I have to justify to them why I spend every dollar ,” says Marchant , or as CEO Peter Lock puts it : “ We recognise that not everything has to be digital and we have many customers who choose us because of our more traditional approach … we ’ re not a Bank that ’ s fascinated by shiny new things at the expense of our existing clients .” That said , they both agree that without its digital transformation the bank will not reach its ‘ Destination Best Bank ’. www . gigabitmagazine . com 251