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Catch Up with Michael

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CEO Update

On behalf of all of us at Qudos Bank, I would like to wish our customers a Happy New Year!

While the new year is an obvious time to pivot to new beginnings, it’s also an opportunity to reflect on the year that’s passed. In this respect l wanted to let you know that in December we reached a settlement in our legal dispute with Infosys, originating from our digital transformation project. While the details of the settlement are subject to confidentiality, I can tell you that both the Board and Management are pleased, and thrilled that we can now put this behind us.

2019 was a milestone year for several reasons. We celebrated our 60th birthday and introduced multiple banking services including mobile payments, real-time payments and exciting new features to our mobile banking app. As you may be aware, as a result of inconsistent adoption of real-time payments by other financial institutions, in December we made a decision to limit outbound real-time payments to PayID. It was not an easy decision and was necessary to improve the experience for customers whose real-time payments using BSB/Account number were being rejected by the receiving institution. This is a temporary measure until take up improves or we can make other arrangements. Of course, in the meantime, inbound real-time payments via both PayID or BSB/Account number will continue to be supported.

In addition to this change, a new update to our Mobile App was released in December last year, featuring enhanced technology that takes the guess work out of identifying your transactions, so you know exactly where you are spending your money. You can read more information about this feature in ‘Tech Talk with Dave’.

There’s a lot to look forward to in 2020, as we continue to evolve and introduce new banking solutions to meet our customers needs. Stay tuned for more information.

Our Journey

The Qudos Bank journey dates back to 1959, when we were established by a group of Qantas Employees looking for a better deal for their community. With a unique heritage in travel and aviation through our Qantas origins, what better way to share our journey than to hear the unique stories of our Qudos Bank customers. In November we invited some of our customers to submit their stories and we look forward to sharing them with all of you over the year ahead.

Thank you to all customers for your ongoing support, we look forward to continuing to provide high quality banking and outstanding service to you in the year ahead.

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