Powered by MOMENTUM MEDIA
realestatebusiness logo

Subscribe to our newsletter

Macquarie launches one click offset accounts

Home loan customers with the bank will be able to instantly open and link up to 10 offset accounts to their mortgage with one click.

Macquarie Bank has launched a rapid digital account experience, allowing new customers to apply for transaction and savings accounts, have their identity fully verified and to start banking in under a minute.

In addition to rapid access to Macquarie’s mobile and online banking apps, a debit card will be instantly loaded onto a customer’s Apple or Google wallet.

The bank has also released near instantaneous offset accounts, with customers being able to open and link up to 10 offset accounts to their home loans with one click.

Luis Uguina, chief digital officer at Macquarie Bank, commented the organisation had set out to emulate a customer experience that might be expected from a fintech, but with the “security of a bank”.

Advertisement
Advertisement

“With this in mind, we’ve built our own security app, Macquarie Authenticator, which gives customers real time control to approve or deny transactions and account changes,” Mr Uguina said.

“It’s fast, personalised and most importantly, a seamless way to incorporate extra security into the way you manage your finances.”

The new capabilities are being powered by Macquarie’s digital banking and cloud-native platform, which it has claimed makes it the first Australian bank of size to run its core platform on the public cloud.

Olivia McArdle, head of deposits and payments at Macquarie Bank, stated many banks still require customers to visit a branch or to wait for days for the physical card to arrive in the mail.

“We have reimagined the account opening experience to be almost instantaneous while still delivering all of the same comprehensive security and identity checks,” Ms McArdle said.

“The feedback from customers since we pushed this innovation live a month ago has been fantastic.”

[Related: ANZ opens digital offering]

Macquarie launches one click offset accounts
mortgagebusiness

Sarah Simpkins

Sarah Simpkins is the news editor across Mortgage Business and The Adviser.

Previously, she reported on banking, financial services and wealth management for InvestorDaily and ifa.

You can contact her on This email address is being protected from spambots. You need JavaScript enabled to view it..

Latest News

The brokerage has teamed with the fintech, for the launch of a new app that will let borrowers compare pricing and environmental impact acro...

The desire to secure a mortgage has collapsed across the country, according to a new analysis from Equifax. ...

The Reserve Bank will be closely watching how households respond to higher rates as it decides its next move, ANZ senior economists have sai...

VIEW ALL

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

What is the maximum proportion of income borrowers should use to service a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.