As one of Australia's new Mutual Banks, Defence Bank, is revolutionising customer service by establishing Australia's first video call centre at its Melbourne Head Office.
This new service, which was launched officially today, will allow Defence Bank's customers to talk face-to-face with a Banking consultant from their home at a time convenient to them.
Defence Bank CEO Jon Linehan said: "This is a significant innovation by the Bank that will have enormous benefits for Defence Force personnel, many of whom find it difficult getting to a branch to conduct their business."
"We know that when people are conducting a major financial transaction, such as applying for a home loan or organising their superannuation, they prefer being able to do it in person. This technology innovation by Defence Bank allows this to happen."
The new service from Defence Bank, which has been two years in the pipeline, is one of a number of services Defence Bank has introduced since becoming a Mutual Bank under the Federal Government's Competitive and Sustainable Banking system reforms that were introduced in 2010.
"One of the aims of the Government's reforms was to enable Mutuals to compete more effectively with the other Banks, and the service innovations being implemented by Defence Bank demonstrate that this is happening" Mr Linehan said.
"It is allowing Defence Bank, as a customer owned Bank, to continue to ensure our customers always come first, and this innovation is an important step in being able to service the more than 90,000 Defence Bank customers, many of whom serve in remote locations in Australia and overseas."
"Many Defence Force members are in their 20s and early 30s, and want this type of technology. What has to be remembered is that military personnel, in particular, are regularly transferred, so this will allow them to establish a 'personal' Banking relationship even when they don't have access to a branch" he said.
The Minister for Financial Services and Superannuation, Bill Shorten, said: "The Government has worked hard to get the right policy settings in place across the economy, so that innovative Australian businesses can grow and build a stronger more prosperous nation.
"I'm pleased that the Government's reforms have enabled Defence Bank to compete more effectively. This innovation is a good outcome for their customers, especially those members of Australia's defence forces and their families," he said.