(28 September 2007 – Australia) CBA and ANZ have both announced plans to extend opening hours in order to increase customer convenience.A competitive war in offering convenient banking has begun, as two of the Big Four banks have announced plans to extend branch hours.
Research has typically shown that satisfying customers will ensure retention and market share gains, and these plans put the customer first.
Some of the busiest CBA branches will open on Sundays, from mid-October, as the first stage of an initiative to have more full service branches open on Sundays than its competitors.
The roll-out includes branches in Victoria, Queensland and South Australia, with more to extend their hours in New South Wales in the future.
Ross McEwan, group executive, CBA Retail Banking Service, said that Sunday trading is about offering convenience, as it is a busy day for both merchants and members of the public.
Similarly, ANZ has confirmed previous plans to open seven days branches in major cities, indicating that we will see seven day branches in each capital city and major regional areas by the year 2010.
ANZ has already opened three seven day branches in the past month.
An ANZ spokeswoman said that customers want access to more convenient banking. She said that ANZ’s extended hours are at times when customers want to do their banking.