BankDirect NZ achieves branchless banking through call centre, Internet

New Zealand's BankDirect has introduced 100 per cent electronic branchless banking. The bank received 7000 phone calls and 125,000 Web site hits in its first seven days of operation. It has a Web site and a call centre as the two main 'shop fronts'. Launched in October of last year by ASB Bank, BankDirect operates on a completely electronic infrastructure without any physical branches. It is focused on the needs of personal computers and is designed to provide them with a faster, less expensive more convenient way of banking. It offers a complete range of services through the telephone, the Internet, automated teller machines (ATMs) and DialDirect, an automated phone system.

Virtual banking is now a reality.

The Web site, call centre and ATMs link through IBM's MQ Series middleware to two major back-end systems: Solace, a Progress-based banking package, and Unicard, a system that manages credit card transactions. There are also a number of smaller backend systems including an X.25 link to credit agency Baycorp, which enables on-line credit checks. The Web site and call centre are based around Lotus Domino.

BankDirect general manager, Jane Freeman, says the virtual bank is a response to market research that shows a significant demand for on-line services.