Latest news with #ConsumerNZPeople'sChoiceAward
Techday NZ
7 days ago
- Business
- Techday NZ
Co-operative Bank partners with 10x Banking for digital upgrade
10x Banking's core banking platform is set to be deployed in New Zealand following a partnership agreement with the Co-operative Bank. The partnership will see the Co-operative Bank migrate its core banking infrastructure to 10x Banking's cloud-based platform in a phased, multi-year project. The migration is intended to support future growth, operational efficiency and continued delivery of services to more than 180,000 customers across New Zealand. The Co-operative Bank is the first New Zealand client for 10x Banking, and the move marks an increased focus on the Asia-Pacific region by the technology provider. 10x Banking recently announced its platform is powering the UK's West Brom Building Society, reflecting continued uptake of cloud technology among mutual and co-operative institutions globally. The Co-operative Bank, a customer-owned mutual, is the only New Zealand bank of its kind that shares profits with customers, having distributed more than NZD $24 million since 2013. The bank was also named the Consumer NZ People's Choice Award winner for the fourth year in a row. Its collaboration with 10x Banking aims to build on its existing customer experience by adopting digital solutions that meet contemporary needs. Mark Wilkshire, Chief Executive Officer at the Co-operative Bank, said the selection of 10x Banking was a strategic decision to preserve the bank's ethos while enabling further innovation in customer services. "10x is a great partner for The Co-operative Bank because they fundamentally understand what matters to us as a customer-owned B-Corp – putting customers before profits. This partnership allows us to preserve our unique values while building leading, responsive banking services our customers deserve. For our customers, whether they're saving for a first home or managing everyday finances, this partnership helps ensure we'll be equipped to support their financial lives today and for the future." Anthony Jenkins, Founder and Chief Executive Officer at 10x Banking, stated that the agreement furthered the company's efforts to support mutual and co-operative banking clients worldwide. "This partnership deepens our commitment to the mutual and co-operative sector globally, building on recent successes with member-focused institutions across APAC, Europe and the UK. The Co-operative Bank's customer-first values perfectly align with our mission to make banking ten times better for everyone, and as fellow B-Corps, we share a cultural DNA. We're proud to support their journey as they build the digital foundations for their next century of service." Both the Co-operative Bank and 10x Banking are B Corp certified, each committed to customer-first approaches and ethical business operations. The bank's digital transformation is positioned as a means of sustainable growth while seeking to provide more meaningful relationships with customers and maintain its profit-sharing model. The migration to the 10x Banking platform is expected to deliver benefits in operational continuity, development of real-time product innovation and improved experiences across channels. According to the companies, such a transition is essential for sustaining the Co-operative Bank's long-term ability to share profits and maintain competitive, community-focused financial services in New Zealand. Lewis Ide, Senior Vice President, APAC at 10x Banking, highlighted the significance of the move for local banking technology development. "New Zealand is a dynamic market undergoing rapid transformation. By partnering with The Co-operative Bank, we're bringing our cloud-native platform to a uniquely customer-focused, community-owned institution. We see this as a pivotal moment in APAC's banking evolution - one where technology empowers banks of all sizes to scale new heights and deliver the secure, and personalised experiences customers expect. We're excited to work together to build better banking experiences for New Zealand's customers over the next century." The phased approach to the core banking migration is designed to ensure minimal disruption for customers while granting the Co-operative Bank greater agility in launching new services and responding to evolving customer needs. Since 2013, the Co-operative Bank has returned more than NZD $24 million to its customer-owners through its profit-sharing scheme. The bank reports it currently employs a team of 400, serving customers nationwide through its physical and digital channels. The partnership's focus on shared values and sustainable banking practices comes at a time of increasing digital transformation initiatives across the New Zealand banking sector.
Scoop
11-08-2025
- Business
- Scoop
Generate Accelerates Growth With Another Impressive Quarterly Result
Generate has once again delivered standout performance for its members, with all three of its original KiwiSaver funds ranking in the top three for 10-year returns, according to the latest Morningstar KiwiSaver Survey (to 30 June 2025) [1]. The Generate Moderate Fund ranked 1st out of 14 funds for 10-year returns to 30 June 2025 – with a 5.7% annualised return. It's been in 1st place every quarter it's been eligible since June 2023. The Generate Growth Fund ranked 2nd out of 14 funds for 10-year returns to 30 June 2025 – with a 8.5 % annualised return. It's been in the top three for 10-year returns every quarter it's been eligible since June 2023. The Generate Focused Growth Fund ranked 3rd out of 8 funds for 10-year returns, to 30 June 2025 – with a 9.2 % annualised return. It's held one of the top three spots on the podium for 10-year returns every quarter since June 2023. These consistent results reinforce Generate's commitment to long-term performance, a key reason more Kiwis are joining the scheme every day. That matters more than ever, as Kiwis become increasingly discerning about their KiwiSaver accounts and more educated on the importance of strong, consistent returns. This shift is also reflected in industry trends. In the most recent financial year, Generate was the second most popular provider by dollar amount of funds transferred in [2] — a clear sign of growing trust and a move away from big-bank providers towards independent specialists like Generate. As well as prioritising performance, Generate is also committed to superior customer experience and empowering its members with good advice. It's been awarded the prestigious Consumer NZ People's Choice Award for KiwiSaver for the past four years, and named a Reader's Digest Trusted Brand for the past three. About Generate: Generate is an award-winning New Zealand-owned KiwiSaver and wealth manager, with an exceptional long-term track record of fund returns. For the fourth year running Generate has been awarded the prestigious Consumer NZ 'People's Choice for KiwiSaver'. Generate has a strong focus on educating and empowering its customers and has over 82% of members' KiwiSaver funds in growth funds versus the market average of 47%. It currently manages ~$7.7bn on behalf of 172,000 customers. Disclaimers: (1)Morningstar KiwiSaver Survey June Quarter End 2025. © 2025 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its affiliates or content providers; (2) may not be copied, adapted or distributed; (3) is not warranted to be accurate, complete or timely; and (4) does not constitute advice of any kind, whether investment, tax, legal or otherwise and 5) has been prepared for New Zealand wholesale clients of Morningstar Research Ltd, subsidiary of Morningstar, Inc and is not intended for New Zealand retail clients. Neither Morningstar nor its content providers are responsible for any damages arising from the use and distribution of this information. Past performance is no guarantee of future results. The issuer is Generate Investment Management Ltd. A copy of the Generate KiwiSaver Scheme Product Disclosure Statement and advertising disclosures are available at Past performance does not guarantee future returns. Investment involves risk and returns can be negative as well as positive.
Scoop
06-05-2025
- Business
- Scoop
Leading By A Strong Margin: Generate Wins Its Fourth Consecutive Consumer NZ People's Choice Award For KiwiSaver
Press Release – Generate The Consumer NZs Peoples Choice award recognises products and services whose customers are highly satisfied. This is the fourth consecutive year Generate has been honoured with an award from Consumer NZ in the KiwSaver category. We're thrilled to share that Generate has won the prestigious Consumer NZ People's Choice Award for KiwiSaver, coming in significantly ahead of the competition. 'Generate Investment Management was the top-ranked KiwiSaver provider in our 2025 survey, with 80 percent of its customers reporting high levels of overall satisfaction,' said Consumer chief executive Jon Duffy. The Consumer NZ's People's Choice award recognises products and services whose customers are highly satisfied. This is the fourth consecutive year Generate has been honoured with an award from Consumer NZ in the KiwSaver category. Our members gave Generate high praise for outstanding customer service, clear communication, ease of access on its digital platform and impressive long-term investment performance. 'Winning the Consumer NZ People's Choice Award is a testament to our focus on excellent service and friendly, helpful advice, as well as strong long-term returns,' said Kristian James, Generate Head of Distribution. 'It's especially important through times of market volatility that we look after our members and make a real difference to them – offering reassurance, clarity, and a genuine human connection.' Based on its independent nationwide customer satisfaction surveys, the Consumer NZ People's Choice Awards are highly regarded in the industry and serve as a valuable resource for consumers seeking trustworthy and reliable brands. In addition to this prestigious award, Generate is also pleased to have once again achieved strong long-term performance for our members in the year ending 31 March 2025, with our three original KiwiSaver funds all placing in the top three of their respective categories for 10-year performance: The Generate KiwiSaver Moderate Fund ranked 1st for 10-year returns in the NZ multisector moderate category* The Generate KiwiSaver Growth Fund ranked 3rd for 10-year returns in the NZ multisector growth category* The Generate KiwiSaver Focused Growth Fund ranked 3rd for 10-year returns in the NZ multisector aggressive category* While markets are currently volatile, it's significant to note that all three of these funds have remained steadfastly in the top three in their category for 10-year performance, for every quarter since they first became eligible in June 2023.
Scoop
06-05-2025
- Business
- Scoop
Leading By A Strong Margin: Generate Wins Its Fourth Consecutive Consumer NZ People's Choice Award For KiwiSaver
We're thrilled to share that Generate has won the prestigious Consumer NZ People's Choice Award for KiwiSaver, coming in significantly ahead of the competition. 'Generate Investment Management was the top-ranked KiwiSaver provider in our 2025 survey, with 80 percent of its customers reporting high levels of overall satisfaction,' said Consumer chief executive Jon Duffy. The Consumer NZ's People's Choice award recognises products and services whose customers are highly satisfied. This is the fourth consecutive year Generate has been honoured with an award from Consumer NZ in the KiwSaver category. Our members gave Generate high praise for outstanding customer service, clear communication, ease of access on its digital platform and impressive long-term investment performance. 'Winning the Consumer NZ People's Choice Award is a testament to our focus on excellent service and friendly, helpful advice, as well as strong long-term returns,' said Kristian James, Generate Head of Distribution. 'It's especially important through times of market volatility that we look after our members and make a real difference to them – offering reassurance, clarity, and a genuine human connection.' Based on its independent nationwide customer satisfaction surveys, the Consumer NZ People's Choice Awards are highly regarded in the industry and serve as a valuable resource for consumers seeking trustworthy and reliable brands. In addition to this prestigious award, Generate is also pleased to have once again achieved strong long-term performance for our members in the year ending 31 March 2025, with our three original KiwiSaver funds all placing in the top three of their respective categories for 10-year performance: The Generate KiwiSaver Moderate Fund ranked 1st for 10-year returns in the NZ multisector moderate category* The Generate KiwiSaver Growth Fund ranked 3rd for 10-year returns in the NZ multisector growth category* The Generate KiwiSaver Focused Growth Fund ranked 3rd for 10-year returns in the NZ multisector aggressive category* While markets are currently volatile, it's significant to note that all three of these funds have remained steadfastly in the top three in their category for 10-year performance, for every quarter since they first became eligible in June 2023.
