Business leaders discuss the year just gone and what will affect them in 2019. Today, Kiwibank chief executive Steve Jurkovich discusses some tough calls he has to make in the next 12 months.
What is 2019 looking like for your business?
These are very exciting times. For Kiwibank, 2019 is all
about a clear and agreed strategy with our Board, and that sets us up to deal with the changes we are seeing across the industry. Increasingly, people are asking "who am I dealing with, am I getting a fair deal, what are my options?" We think we're different – we want to be different – I see 2019 as the year people decide it's time to make the change to Kiwibank.
How is that different to 2018? How has the last year been for your business?
Very successful. We're halfway through our financial year and we've had a great start. More and more customers are trusting us with their deposits or have come to us for help with their homeowner dreams or to start a business, and that's given us good momentum. We started a technology change journey last year, and by this time next year we'll see a whole lot of progress on this front.
What are the issues affecting your industry in the next 12 months?
The changes we've seen over the past 12 months have been more significant than I've seen in 20 years – it's been one out of the box. The intense focus on the Australian Royal Commission has had a knock-on effect in New Zealand, and that's been really worth-while. It's shown that we don't have the systemic issues seen in Australian banks, and it also signalled that our regulators are looking for a higher standard from us. We need a deep sense of curiosity around that. We'll be looking outside our own industry to see how change is affecting other businesses and their platforms – looking at the media industry, entertainment, music, transport, and accommodation - there's much to learn.
What is the biggest issue you would like the Government to champion in 2019?
It has to be the digital divide. Having access and using online channels means people get the best opportunities – and there are still many people locked out of that. When we talk about wellbeing, I think that people who aren't 'connected' are never going to be able to optimise their wellbeing, so we need to think about different ways we can include people. It's a big issue, and one that we all need to work together on.