Kiwibank
Chequing out
For many Kiwis, receiving a cheque book was their first banking experience, but with the use of cheques declining at a rate of 20% year on year (for the last 5 years), the writing was on the wall. It was time to make a bold move. On February 28, 2020, Kiwibank announced they would be the first bank in New Zealand to ditch its cheque service.
Out with the old, in with the new
Getting rid of cheques wasn’t an easy decision to make, but ultimately Kiwibank were faced with investing in a shrinking service with outdated technology, or investing in their evolution towards being a sustainable, future ready bank.
Easing the transition
We were asked to help Kiwibank break the news to New Zealanders. We knew that for some, cheques were a way of life, and the transition away from them wouldn’t be an easy one. Alongside the team from Kiwibank and their partners at Stepping Up (a digital transformation agency) we wrote letters to everyone that’d be affected, created a brochure to help make the change as simple as possible, and ensured that resources and info was readily available on their website.
Epilogue
Kiwis love to pioneer new ways of doing things, even if being the first to do so causes a bit of a stir. And while there was some resistance at first (sorry nan), things went smoother than we could have ever imagined. Today, cheques are a thing of the past, and Kiwibank and their customers are moving forward together towards a more sustainable, digital future.
