The centennial bank of Queensland has revealed that it is to be run by a “bank of tomorrow”, a move which is expected to boost competition and help drive more deposits.
Read moreThe Centennial Bank of Queensland (CBOQ) will be one of several banks to become banks of tomorrow.
It will become one of three banks to receive the BofA “Bank of Tomorrow” designation, a status that allows banks to offer products and services on their behalf to their customers.CBOQU, which will be the only Australian bank to receive a BofF designation, has a total of $4.6 billion in assets, according to its most recent financial statements.
It is expected the bank will focus on its role as a bank for farmers, farmers businesses, small businesses and small businesses that use the financial services industry, and also be able to provide information to farmers and businesses about the benefits of banking.
The bank’s website is now live and users can sign up to receive email notifications about new updates, the bank’s new website, and updates on its services.
The ABC has been contacted for comment.