CANSTAR announces Bank of the Year – Small Business Award

CANSTAR announces Bank of the Year – Small Business Award

CANSTAR Bank of the Year – Small Business is awarded to the institution that provides the strongest combination of business loans, deposit and credit card products as well as excelling in a range of institutional factors.

• The award aims to give recognition to the institution that backs up quality products with great service to small businesses.

• Phenomenal sixth win in a row for BNZ

It is a phenomenal achievement: Bank of New Zealand (BNZ) has proved its enduring commitment to helping small business customers by being named Bank of the Year – Small Business by CANSTAR for the sixth successive year.

Irrespective of size all businesses need specialist business banking support from financial institutions and each year CANSTAR researches and rates the business banking products and services offered by New Zealand's financial insitutions. To be considered for CANSTAR's Bank of the Year – Small Business Award institutions must offer loans, credit cards, and deposit accounts to businesses.

"Small businesses are the backbone of New Zealand's economy and access to information, finance and timely advice is key to helping those businesses succeed," said CANSTAR General Manger – New Zealand, Jose George.

"CANSTAR's Bank of the Year – Small Business Award aims to recognise the institution that offers an ideal mix of strong products and strong services."

CANSTAR's annual research of the small business banking offerings available from New Zealand financial institutions consists of a review of the loan, credit card and deposit products that are available, as well as assessment of institutional factors including:

• Branch coverage

• Relationship manager availability

• Online banking functionality

• Merchant services

• Other business services and advice

• Business insights and education

Sixth win in a row for BNZ

For the sixth year in a row, CANSTAR congratulates BNZ on winning the Bank of the Year – Small Business Award.

CANSTAR's Jose George described it as an impressive achievement.

"BNZ provides a comprehensive and well-priced range of business banking products including their MyMoney for Business, their new Advantage Business Visa credit card and flexible business loan options.

"BNZ also have a solid range of educational resources for both new and established businesses, including a nationwide speaker series, BNZ Connect, and their online Small Business Toolkit. In terms of face-to-face, BNZ's Relationship Managers offer long hours of availability and video-conferencing facilities."

Responding to the announcement, BNZ's Head of Small Business Harry Ferreira described it as an incredible honour.

"We’ve worked hard to improve what we deliver for our small business customers and this award shows it’s really working," Mr Ferreira said.

"We invest heavily in innovation. We have a team with the scope to think holistically about the customer experience both personally and commercially with a brief to think beyond banking. Technology is playing an ever increasing part in providing customers with better access to Business mangers when they need them and a better ability to transact when it suits them.

"We also spend a lot of time away from our desks visiting our small business customers and listening to their ideas and plans for the future. This helps drive us to work with them to achieve their goals."

CANSTAR congratulates BNZ on its impressive achievement.

The Bank of the Year – Small Business Award report can be accessed here.

ENDS

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