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Australian Military Bank hit with a direct order
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The financial intelligence regulator issued Australian Military Bank with an enforcement action designed to ensure the bank is compliant with anti-money laundering laws and stop it from being compromised by criminals.
AUSTRAC issued the small Australian bank with 56,000 customers including veterans, serving defence force personnel and their families with a remedial direction on Monday. Remedial directions are one of four enforcement actions available to AUSTRAC and it is the first action of its kind issued since 2015.
Australian Military Bank has 56,000 customers including veterans, serving defence force personnel and their families.
Australian Military Bank prwire.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prwire.com.au Daily Mail and Mail on Sunday newspapers.
Customer-Centric Banking: The Need is Imperative and Immediate
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For the longest time, the branch was the undisputed center of the banking universe and everything revolved around it. In the last 20 years, banking transactions have moved from 50% in-branch to 95% digital self-service channels with customer experience at its center.
April 12, 2021
Now that the customer-centricity has taken a whole new meaning, the banking processes and systems merits some much-needed realignment. To be more specific, the customer-centric banking paradigm is open, transparent, real-time, intelligent, tailored, secure, seamless, and deeply integrated into customers’ lives.
In truth, customer-centric banking is no longer optional. Today, customers are both demanding and impatient. And also, notoriously fickle: when a well-known advisory firm surveyed 15,000 consumers around the globe a few years ago, it found that a third would stop using a “loved” brand after just one bad experienc
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