Heritage Bank rated most authentic bank in Australia

28 February 2020

Heritage Bank’s genuine commitment to customers is the reason why it’s been rated as the most authentic bank in the country, CEO Peter Lock said today.

Heritage has scored the highest rating in the J.D. Power 2020 Australia Bank Brand Authenticity Study, released late last week.

The study is the result of a survey of almost 5,000 bank customers around Australia. Authenticity is based on 12 attributes: trustworthy; honesty; delivers value; customer first; moral; cares about customers; provides meaning to lives; reflects consumer values; connects with people; heritage; timeliness; and survives trends.

“I’m thrilled that Heritage Bank’s absolute commitment to its customers has been reflected in our ranking as the most authentic bank in the country,” Mr Lock said

“Our people first motto is not just a slogan, it’s a philosophy that drives everything we do.

“Banking customers are very savvy and they see through the spin that the big banks put on what they do. They know genuine customer commitment when they experience it, and that’s exactly what Heritage has to offer.”

Mr Lock said it was telling that customer-owned banks all ranked at the top of the study results, while the listed banks were at the bottom.

“People have lost trust in the major banks, particularly given what came out of the Royal Commission. They understand that the listed banks, and the neo-banks, are driven largely by a profit maximisation motive.

“Customer-owned banks are genuine about being in business to benefit their members, and that shines through in their authenticity rankings.

“It’s all about trust and this report shows that Heritage is bank that people know they can trust.”