At MyState we’re getting ready for the future, and piloting our new-look bank branch for the community.
We value our MyState Bank branches and the role they play.
Many of our MyState customers like banking in-person and want to talk about their financial needs and solutions, businesses still make cash deposits and are looking for advice, and branches are often the central hub of the local shops.
So our branches don’t go the way of the Tassie Tiger, the plan is for our MyState Bank branches to undergo an overhaul, with Greater Hobart’s Rosny branch the first to be refurbished and relaunched in August 2022.
Come in, we’d love to hear what you think. And while you’re there, meet Rosny’s new bank manager Belinda Morrisby and the team.
We’re looking into other changes across all of our branches over coming years, including transaction lanes separated from enquiries, refits, meeting rooms, as well as new technology. We’ve also engaged multiple local businesses to assist with this transformation.
Brett Morgan, MyState Bank’s Managing Director and CEO, said branches must evolve as the needs of the customers move from simple transactions to now wanting convenient one-stop financial hubs and longer conversations.
“Online payments and mobile apps have changed banking forever, but we still believe there’s a role for branches in Tasmania. It’s why we’re redesigning and updating our bank branches,” said Mr Morgan.
“At MyState Bank, we’re the human way to bank, and that’s our point of difference - our customers can experience this friendly and efficient service in a branch.”
“Banking can be confusing and overwhelming and that’s where our knowledgeable staff can help with more meaningful conversations in a private seated area or in meeting rooms. This could be for handling complex and emotive conversations, or chatting to a financial coach.”
“We’re also looking into offering educational seminars around growing your money and financial wellbeing, and those events would also be available to non-customers.”
Mr Morgan said he wants people to feel they've connected with financial experts in a branch who can help them stay on top of their money.
“While some trends suggest the branch is dead, we believe they’re alive and well.”
“With fewer cash transactions and more digital usage, it means our ‘traditional branches’ need to evolve. The physical retail space offered by banks must change to places where customers can find out about other products and services offered by the bank, as well as access companies MyState collaborates with, for example TPT Wealth.”
“We see our Tasmanian branch network as an opportunity for business growth – we can provide in-house conversations on wealth creation, while also helping customers manage their everyday finances and access digital services.”