The future looks bright

I am now four months into my new role as RACQ Bank CEO and really starting to grasp how truly different this bank can be for RACQ members.

When I first heard RACQ was moving into banking through a merger with another Queensland mutual, I was immediately interested. To have the strength of RACQ in our home state of Queensland and the support of members for new services would make a truly unique offering.

I’ve been in financial services for more than 20 years and have seen a lot of change in that time.

With the Royal Commission into Misconduct in Banking, Superannuation and Financial Services shining a spotlight on our industry right now, there is no doubt there is more change to come.

One thing I’ve been asked a lot since starting with RACQ Bank is why would we get into banking at such a tough time for the industry?

Now is exactly the right time for RACQ to be in banking. It is exactly the right time to show what a bank can be when it’s driven by doing the right thing, by its members and committed to being fair.

We know we’re not perfect, but we are working hard to fix the things that members find annoying about banking, so we can create something truly different – and meaningful – for our members.

We have a wonderful team, all dedicated to our members, and we’re investing every day in these people and in our technology to ensure we smooth out some of our early teething problems.

We are not interested in the next gimmicky, sexy thing. Rather, we will be working hard to get the basics right and to do the right thing to create value for members. We are about delivering day-in-day-out consistently good service for our members.

It won’t happen overnight, but we are excited about the opportunity for RACQ to deliver banking for members in a truly different and meaningful way.