Media Release: Expanded Customer Charter
Tue 07 May 2002
Published: Tue 07 May 2002 16:47:19
Document No: 190018
Document part: A
Market Flag: N
AUSTRALIA AND NEW ZEALAND BANKING GROUP 2002-05-07 ASX-SIGNAL-G HOMEX - Melbourne +++++++++++++++++++++++++ ANZ today announced the expansion of its Customer Charter making ten promises to customers as part of a further effort to restore customer faith in banking services. Effective today, the ANZ Customer Charter establishes benchmarks for the provision of service to personal and small business customers including new promises on: * Simple accounts, fees and charges * Quick, convenient branch banking including a target to serve customers within five minutes of arrival and a national review of branch opening hours * Fast, efficient phone service including standards for maximum waiting times when calling to speak to a customer service representative * Building relationships with the community including maintenance of ANZ's current banking presence in rural communities. ANZ Chief Executive Officer, Mr John McFarlane said: "Queues and fees are among our most difficult issues with customers. Acknowledging the problems and beginning to address them is an enormous task. "I know there is still a long way to go to restore customers' faith in us but we are very serious about making a difference. The expanded Charter is another tangible action we are taking toward putting customers first and beginning to achieve a real balance between the interests of shareholders, staff, customers and the community. "It's only when we achieve this balance that we will be able to stand up and be truly proud of our achievements as a company," Mr McFarlane said. ANZ has also disclosed its performance over the past six months against service standards established in its October 2001 Customer Charter (see attachment). The performance indicates: * strong adherence to account opening standards, however delays in answering home loan applications resulted in more than $10,000 being paid to customers in compensation * 24-hour, seven-day service targets for access to ATMs, phone banking and internet banking consistently achieved * resolution of most customer complaints within ten days. In future, ANZ's performance against the Customer Charter will be independently audited by KPMG and reported on each year to provide public accountability for Charter promises. Mr McFarlane commented that performance against the October 2001 Charter was credible and progress was being made to deal more effectively with complex customer complaints. "We have created a new independent and senior position of Customer Advocate to ensure satisfactory resolution of customer issues and complaints. Bill Robinson, formerly the Chief Executive Officer of the Legal Practice Board of Victoria, has joined ANZ in that role this week," he said. The expanded ANZ Customer Charter includes other customer and community initiatives introduced earlier in the last year including fee-free transaction banking for over 60s and Commonwealth Health Card Holders in 2001 and lower cost personal banking accounts in 2002. For media enquiries, contact: Paul Edwards Head of Group Media Relations Telephone: 03-9273 6955 or 0409-655 550 (mobile) Email firstname.lastname@example.org OCTOBER 2001 CUSTOMER CHARTER PERFORMANCE SUMMARY - SIMPLE FAST ACCOUNT OPENING Customer Charter Promise Performance Penalty (%) payments to customers* Personal Banking New accounts available within 24 hours 99.99% $18 (3 instances) Personal Loans Answer standard applications within 1 working day 99.99% $10 (1 instances) Home loans Answer standard applications within 2 working days 98.72% $10,516 (1,111 instances) Car Loans Answer standard applications within 1 working day 100% Nil * ANZ will refund one month's standard fee or its equivalent if it does not meet customer service standards included in this promise. - 24 HOUR, 7 DAY ACCESSABILITY Month ATM Phone Banking Internet Banking Target - 98% Target - 98% Target - 99% available available available October 2001 98.21 99.87 99.80 November 2001 98.29 99.45 98.86 December 2001 98.39 99.74 99.65 January 2002 98.83 99.74 99.74 February 2002 99.99 99.93 99.99 March 2002 99.28 99.75 99.18 - SWIFT RESOLUTION OF COMPLAINTS* Month Average days to resolve % over 10 days - complaints requiring additional Target - 10 days maximum information October 2001 5.23 2% November 2001 4.40 17% December 2001 4.55 17% January 2002 5.22 23% February 2002 4.79 12% March 2002 4.22 21% * Overall, approximately 3,000 complaints are received each month.