Labour market pressures hit banks as annual personnel costs rise almost $250 million

Short and sweet article. 😋 

Kiwibank have been stealing good agile experienced people from the majors, its no surprise.

Good on them. Get Kiwibank up to a stronger position to get the Aussie banks out of the trough.

KiwiBank need to jack their front end up on the Notice saver account. They have only been under average on IT. Remember their $90mill impairment 3 or 4 years ago on IT systems.

Banks are trying to have as much interface as possible via the net yet I still have to phone in or an internal email which may take 3 or 4 days to answer, to Kiwibank to close off a notice saver. With Westpac you have to go into the branch to open a notice saver (this was the case about a year ago)

Upping someones salary or concentrating resources in the wrong area doesn't help.