In the spotlight

11 banks reviewed

ANZ, BNZ, ASB, Westpac, Kiwibank, TSB, Southland Building Society, Rabobank NZ, Heartland Bank, The Co-operative bank. HSBC.

What the banks need to change

Need to determine information they need to improve customer experience

Managers need systems for collecting conduct data

Must be proactive about identifying and remediating issues

Strengthen processes to prevent, detect and manage conduct and culture issues

Education on good conduct and culture

Have ways to report poor conduct Remove incentives linked to sales

Change incentive programme by next September

Provide plan to address individual concerns by next March

Regulators will take action if they are not happy with progress or urgency