I was drawn to this window by the Lego helicopter on the shop floor – I like a good Lego construction. I did not immediately notice it’s a bank.
Yes, it’s a Westpac Bank branch. Amazing. Innovative.
There is a kids play area, a cafe down the back, bright colours and a totally inviting and calming look and feel to the place.
I stood at the window in awe of the redefining of the look and feel of a bank. Whoever came up with this ought to be congratulated. It is stunning … redefining what I would expect from a bank and leaving me with a story about Westpac.
What I saw Wednesday night has left me wondering what a newsagency could look like if you want to break free from the tradition and restrictions of the past and how consumers perceive us. This is what Westpac has done, they have created a bank that completely plays against what we expect – and thereby made their business more accessible.
Is that the Queen St branch?
yes it is Mal. Quite amazing.
Yes, it is quite amazing. I remember the lego helicopter came on the news when it was being built.
They said it took 3 people 50days (1200 man hours) to make it.
And it weighs almost 1/2 a tonne.
Wow.
I have a Westpac branch in my newsagency. I wished it looked like that !!!
I’m sure if a newsagent was making $7 billion in profits they would be able to do a lot of things
Luke that’s one way to look at it and ignore the thought opportunity of what we could do – within our means. What we make is up to us.
It was a joke Mark, don’t get so defensive it friday
Not defensive. Missed the joke.
I thought it was funny that they will not pass on rate cuts, sack staff and cry poor yet they can pay someone 1200 hrs to build a lego chopper, but like you stated you missed the humour in it. I love to have the money to waste on such things.
It wasn’t funny Luke. The investment is probably not a waste. Like time spent in our stores on playing against expectation.
Luke, so a bank with thousands of retail outlets, commercial and agribusiness divisions, institutional banking, wealth divisions, overseas interests etc etc… makes a big profit. The ROI is not that big.
What’s the alternative, greek, spanish, italian maybe even a U.S. bank. I know where I want my money to be.
Retail banking in it’s existing format has a very challenging future much the same as a newsagency. To watch and learn from the way banks are reinventing the branch experience would be a wise idea. This is what Mark is trying to point out.
gee bet you didn’t expect those responses Luke – by the way I got the joke
Guys, I understand the ideaology of the WP bank but I also understand Luke’s comment.
Reinventing ourselves sounds good but it
is a very hard grind with the trading terms
for SME’s as opposed to big business and corporates.
Cashflow is, IMHO, king and it is our biggest hurdle.
If anyone has thought outside the square
about our businesses it would be great to
hear from them.
I have listened for years. Bigger is better – so I got bigger – downsize for
shopping centres because the rents are
too steep – I’m in the middle of doing that.
Put in gifts because they are a better markup – I did that -reduce your mags because the paradigm of mags has shifted – I’m doing that.
I have ticketek “it brings in people”
I have lotto “it brings in people”
I have bus tickets “it brings in people”
We do faxes, photocopies “it brings in people.”
My staff and I are busy all day but a lot
of the work we do does not pay wages let alone rent.
All ideas gratefully accepted, but there is
only so much one can do for little or no
remuneration and I think that’s what Luke
meant.
It’s not good to be negative but one does
have to be realistic.
All ideas gratefully accepted.