(Australia) – One of Australia’s regional players, Bank of Queensland, (BOQ) has reinvented itself with a new logo and a push to win unhappy big-bank customers.The Bank has spent the past 15 months reinventing its back office, processes and IT outsourcing and its looking to leverage this effort by cherry-picking disenchanted corporate customers from the majors, with a focus on New South Wales and Victoria.
Retaining a “community” approach to its customer engagement, the Bank is opening 34 new branches over the coming 3 years in a move diametrically opposed to industry-wide trends.
BOQ currently has an insignificant position amongst the Top 500 corporate and institutional market in Australia, although is well-regarded by the few big accounts it does business with according to East & Partners’ research.