"Working with Australia Post has enabled us to maintain our low cost base and that allows us to invest more in our interest rates and services, which ultimately provides a better return for our customers."
- John Arnott, Director of Products at ING
Background
ING, Australia's first branchless bank, promises its 1.5 million customers simple, cost-effective banking and competitive rates.
Challenge
ING wanted to offer a face-to-face option for some transaction services. With the launch of the new Orange Everyday account in 2010, the identity of new customers also had to be checked to comply with legislation.
Solution
Australia Post's online form data capture technology and in-person identity check services give ING a national physical presence and access to stringent ID checks.
Results
During the first year, over 70,000 customers opened an Orange Everyday account and more than 25,000 new customers were verified in-store at Australia Post. A higher proportion of customers than expected also continue to use Australia Post as a face-to-face transaction channel for ING.
