TSB launches virtual bank amid COVID-19 crisis

by Roxanne Libatique03 Jun 2020

Kiwis and New Zealand businesses moved online since the start of the COVID-19 lockdown, inspiring TSB to launch a virtual bank.

The TSB Virtual Bank allows customers to open a TSB account, with modern technology confirming their identity through a short video selfie. Customers could also book a video call with a mobile mortgage manager to discuss their lending needs.

Justine St John, the general manager for marketing and customer experience at TSB, explained that using digital services became the new normal during the lockdown.

“With most of our branches unavailable, we were so proud of the high level of care we were able to offer our customers via phone, email, internet, and mobile banking, but there are always going to be some financial conversations where you want a more personal interaction with your banker,” St John said, as reported by Fuseworks Media.

“At TSB, that's really important to us; we're known for our human, authentic touch. We've won the Consumer NZ People's Choice Award for banking five years in a row because we genuinely care about building relationships with our customers and getting the best for them.”

Read more: Mortgage wars: TSB relaunches price-match offer

St John said the new platform makes it convenient for people to connect as it removes travel time to get to a meeting and gives people flexibility in their daily schedule.

“What COVID-19 proved was that you can still get that personal, human touch via a video call, but connecting this way is more convenient,” she said.

“Virtual Bank was born from that desire for more convenience because it means people all over New Zealand, regardless of if they have a TSB branch nearby, can click a button at any time of day, to book a video call appointment with one of our friendly team.”

“We'll be here to provide a great level of support for their banking needs in the moments that matter – like buying or selling a home,” St John concluded.

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