Lisa Claes, executive director of customer delivery at ING Direct said customers expect to be able to access goods and services easily and quickly via digital channels and banking is no different.
“The days of relying on paper and face-to-face transactions should be over and a trusted digital identity is a key part of the customer value chain,” Ms Claes said.
“We are pleased to see the government’s commitment to have the Productivity Commission work on ways of broadening access to, and use of, data for identity purposes.
“Efficient digital access to financial services also reduces cost and makes banking easier for customers.”
Ms Claes welcomed the government’s overall response to the FSI saying customers were set to benefit from a more transparent system.
“Customers are seeking more control over their finances and digital access and transparency over fees and charges is a way of making this happen,” she said.
The challenger bank also welcomed the government’s commitment to fostering innovation within financial services with support funding for early stage innovators and encouragement of peer-to-peer lending.