Michelle Winzer

Chief Executive, Bank of Melbourne

Looking at the year ahead, I’m reminded of how I felt on my first day at Bank of Melbourne back in 2017. I see a huge challenge and also enormous opportunity as powerful forces reshape our industry.

There’s no doubt that the recommendations from the Financial Services Royal Commission’s final report will guide decision-making and policy for years to come. Our customers expect more from us and rightly so. The government and our regulators expect us to act in our customers’ best interests and they’re right to expect that.

Changing economic conditions are fundamentally impacting the traditional areas of our business. New business models, intermediaries, neo-banks and fintechs are contributing to the changes in the way people view banking as a service.

Combined, these changes are driving the entire sector to evolve.

As with the move from cheque books to credit cards, branch transactions to ATMs and the exponential growth of online and mobile banking, our business has continued to adapt.

With confidence in digital services growing across all industries, the evolution of the banking experience will continue.

Our customers tell us that while they want the ability to do business online, they still value that personal connection for guidance with more complicated transactions. Our approach at Bank of Melbourne remains firmly on our customers, to create the right mix of person-to-person interaction, mobile and other digital services to meet the needs of all our customers.

I’ve spent my whole career in banking – leading retail banking, business banking, call centres, operations and plenty in-between. The common thread that runs through all these experiences is service.

Customers today have more choice than ever and more ways to publicly share their experiences. This environment only crystallises our focus. Our aim is to deliver the best customer service in every single interaction.

It starts with truly understanding our customers – where they want to go, and finding a way to get them there. Real examples of the impact on our customers when we get it wrong have been highlighted throughout the course of the past 12 months, whether that’s us, other banks or other service organisations. And when we get it wrong, we do our best to fix it, and fast.

I’m personally passionate about creating a culture where every member of the team can achieve their best, and in turn deliver the best service for our customers. I want our customers to feel the difference. It’s about taking the time to both understand and celebrate the elements that create great customer experiences, as well as continuously learning and sharing how we can improve.

I’m proud of our ongoing commitment to support Victorian charities and organisations which make important contributions to our local communities. The Bank of Melbourne Foundation has given more than 100 local charities almost $3 million in grants in the past six years. It’s humbling to see the generosity of our customers, partners and team members as we come together to help the communities around us.

Our Collingwood Arts Precinct partnership is a unique example of how we can support the community in an innovative way. Melbourne’s creative community will benefit from a new funding and support model developed by our team to support the re-development of the former Collingwood TAFE, slated to become the city’s newest hub for art, design, music and performance. We will also fund a year-long residency program worth $30,000 annually, for the next five years, to help up-and-coming artists and creative enterprises, with applications opening later this year for the 2020 residency. Projects like this truly define Melbourne as a place where communities and businesses can thrive and contribute to our economic growth.

For Bank of Melbourne, our long-term focus continues to be on supporting our customers, communities and local businesses. We will adapt and innovate as the financial services sector evolves, but it is through genuine engagement and strong connections that we will deliver greater outcomes for our customers and contribute to a stronger economy.