Digital threat to mortgage advisers

BNZ is clearly wanting to develop digital tools to service customers and keep them within its own channels, rather than through third parties.

“The more things get digitised, the more we can deepen our relationships with our customers and continue to strengthen our proprietary channels, and proprietary relationships with our customers," out-going chief executive Anthoy Healy says.

It is a threat to mortgage advisers, he concedes, but “the brokers can digitise, too.”

“The challenge in financial services is that no one quite knows what the future looks like. What we do know is there are emerging capabilities that are going to make a difference. That’s why we’ve been investing in a digital platform, in automation, in AI (artificial intelligence), in data and analytics, all of these capabilities.