Posts tagged ‘banking’


The Luddite side of me

14.05.2017

This might make me sound like an old fogey, but doing things the electronic way is only good if that way happens to be more efficient. Not so the AA, which I see has switched to notifying me about my membership renewal via email.
   Here’s what I told them tonight after spending 20 minutes doing it this newfangled way.

Hello there:

I see the AA has sent me an email reminder to renew my membership. Please can you switch back to sending these by post? The electronic experience was terrible.
   1. I never saw the email. It was only checking through the spam folder that I saw it had arrived on the 10th. That was only by chance.
   2. While renewing was simple, the renewal notice that comes electronically does not become a tax invoice when paid—unlike the posted notice.
   3. To get the invoice, I had to go online into the MyAA system.
   4. To get into the MyAA system, I had to sign up again, because my username had expired.
   5. I signed up again but couldn’t have my username because it was taken. No kidding: it was taken by me. Frustrating.
   6. The site isn’t that easy to navigate, sorry. Took ages to find the invoice (‘receipt’). To my surprise, all my old receipts are there, too—so what’s all this about my account having expired? Come to think of it, if it had expired, you’d never have been able to send me any emails over the last few years.
   7. I have to do my own printing, which I’m betting is less eco-friendly than offset printing.
   The old way: the notice would arrive, I would send back a cheque or renew online, bingo.
   If I wasn’t looking through the hundreds of emails in my spam folder—something I do not do regularly—I would never have seen your notice and I would have failed to renew my membership.
   There’s a lot of merit to the old ways, and if it’s not a burden, please continue sending the notices to me via the post—that way [they]’ll arrive.

Kind regards,

Jack

   The expired account BS is something I really tire of. Nvidia did that to me not too long ago, forcing me to sign up again and then saying my own username was taken—despite also saying that I needed to update my drivers. Therefore, (6) above is a very pertinent point, and applies to both organizations. There’s a remarkable lack of logic in claiming an account has expired when you are using the very data from that account to reach that person.
   I find it baffling that companies will lose user data—the Telegraph newspaper springs to mind, as I had signed up there in the 1990s—which makes you wonder just how secure they are.
   At least in the US, the NSA kindly keeps a copy for you …
   It’s not unlike banks telling us that cheques take five to seven days to clear. In 1976, this process was overnight. But if you work for a bank, maybe your computers do work seven times more slowly than the advanced machines Databank had 40 years ago … Sorry, bankers, pull the other one. Some of us actually have functioning memories.

Tags: , , , , , , ,
Posted in business, internet, New Zealand, technology | No Comments »


Brexit reminds us that we need to take a lead in making globalization fairer

28.07.2016

Brexit was an interesting campaign to watch, and there’s not too much I can add that hasn’t been stated already. I saw some incredibly fake arguments from Brexit supporters, including one graphic drawing a parallel between the assassinations of Anna Lindh in 2003 and Jo Cox MP, saying how the murder of the former led Sweden to remain in the EU.

   The trouble with the graphic is that the only thing it got right was that two women were killed. Sweden wasn’t having a referendum on whether to leave the EU, it was about whether it should adopt the euro. The closest British parallel would have been when then-PM John Major negotiated the Maastricht opt-out in 1991. It also claimed that the polls were for leaving; notwithstanding that that wasn’t what the Swedes were voting for, the polls for and against adopting the euro were roughly neck in neck, though the wisdom was that the pro-euro camp would win. By the weekend, the result was that Sweden would keep the krona.
   When I argued with some pro-Brexiters about this, they, like most pecksniffians, demanded I check my facts. I didn’t have to: I have a memory that goes back further than one month, and unlike them, I know what went on in their own backyard because, in 2003, I kept my eyes open.
   I should point out that I am not summarizing all Brexiters as dimwitted Britons who wanted Johnny Foreigner to go home. I count among my closest friends someone who voted leave, and for very substantial, well thought-out reasons. He felt that the European Union had become an unwieldy bureaucracy which benefited Britain little, and while I felt the benefits outweighed the detriments, I respect his opinion and his vote. At least it was considered, and at least it wasn’t one that was based on the ramblings and rants of Farage, Johnson, Gove et al.
   Appealing to nationalism, as the likes of Farage did, is a cheap trick in politics: it stirs a wave of nostalgia, and people might love chanting at how great their nation is, but it doesn’t address the core issues that put them into the poo to begin with. Of course the UK has a great deal to be proud of; but like many countries (including ours) the globalist technocratic agenda are what have made things untenable for a growing part of the population. It’s why real wages haven’t risen yet certain corporations profit aplenty; it’s why we work more hours today than we ever did, despite futurists of a generation ago predicting all this leisure time that we would all have thanks to automation.
   But is retreat the right thing to do? The remain camp believes that it wasn’t: to influence Europe you must be in Europe. It wasn’t that long ago that not being in Europe was fatal to British exports—the failure of the British motor industry, for instance, was in part due to its late recognition that the UK needed to be part of the EEC or, at least, produce vehicles there. Globalization’s positives should be the free movement of people and of capital; and economic union to permit that greater freedom seems a sensible thing to pursue, not to run away from. The trick is how to make this work for everyday people, the growing number who are impacted by globalist forces; once there were few, now few escape them. It is, then, the role of government to either protect those who are most vulnerable, to champion (either through private enterprise or on its own accord) real innovation and industry that can create jobs, and to cut through the BS where both public and private enterprise simply reinvent the wheel from time to time, putting lipstick on the bulldog.
   I am ambivalent about it because I’ve seen our own governments, National and Labour, be particularly weak when it comes to dealing with globalization, succumbing to foreign takeovers and allowing the little guy to be run over. The deals haven’t been good for New Zealand in many respects, a small country that believes in its place in the first world but which can be deluded about this very fact. Our economy just isn’t that solid to take it on the chin. Look at our banks, mostly foreign-owned and more unreliable than ever: remember how 40 years ago cheques would take 24 hours to clear? Yet now our computerized systems take three to five working days? Insiders tell me this is the consequence of less reliable Australian systems being foisted upon us; so much so that we have a wire transfer that has been taking weeks, and no one knows where the money has gone. Just how do you misplace tens of thousands of dollars? Why do we assume Australian bankers are smart enough to answer? And those who question such agenda don’t get much truck in a media landscape also dominated by foreigners: I’m looking at one newspaper publishing group at the least. The ways of the big countries are not always the best—yet somehow the powers-that-be in this country have been hoodwinked by this consistently since 1984. I can’t understand it, and my initial reaction when there is such a lack of logic is to follow the money.
   Brexit has made me refine my thinking: I might not like a system where New Zealand’s the little player that doesn’t benefit from a level playing field, but at the same time I believe we need to find ways to influence the globalist game for the better. We love looking at Scandinavian countries because of their comparable size. They may have higher taxes but at the same time they don’t seem to balk at innovation for the greater good; they believe in the freedom of movement of capital and of people, and, despite their general humility, they actually aren’t afraid of creating global companies that take on the rest of the world. Look at Vattenfall or Statoil. We might not like Statoil for what it wants to do to our own environment, but we do have to ask what our equivalent is. We lost our lead in hybrid cars, which we held for most of the 1980s, but it’s an example of what we can do when government and private enterprise cooperate on something that is future-oriented. What’s the next big thing? Is it renewable energy tech that we can export? There are companies here already doing frictionless exports, and more need to be encouraged. Government shouldn’t try to create groups of them or force mergers upon them; that can be left to the market. But there needs to be a vision or a direction that we take to create a new brand for our country where people naturally think: innovation for the greater good = New Zealand. And, maybe, to go with that, a fairer version of globalization can emerge, certainly one that is not coloured by the next quarterly result demanded by Wall Street.
   Yes, there is some national fervour involved here, too, but applied correctly, it won’t be false flag-waving that’s dependent on the past. I’m all for being proud of your country when the victories are real and measurable—like on the sporting field. There it’s real, and it’s often about the next game or the next season: it’s future-oriented, too. With Brexit, I can’t see the vision; and the most visible foreigner among this, the Turkish-American politician, Boris Johnson, hasn’t communicated one that I can discern.
   And maybe this confusion is the opportunity we need for New Zealand.
   After the UK abandoned the Commonwealth markets in favour of one right next door, our country found new export markets, so much so that the UK accounts for 3 per cent today. Even in 1973, when it was 40 per cent, it had been falling consistently for half a decade, if I recall correctly, and the notion that Britain would reach back out toward the Empah for trade is fanciful at best.
   Being someone who has enjoyed looking at world history play out through maps, ever since I discovered a book on the subject as a third former at Rongotai College, it hasn’t escaped my thoughts that this is a further retreat for the UK in terms of its global influence.
   So who’s on the rise? It might be us. The centre of the global economy has been shifting eastward in recent times and we’re well placed to take advantage of it. We’re part of the Anglosphere so we bridge the past, where it was the dominant global culture, with those trading partners who might be on the horizon. But it has to be real. We’re nimble enough, and I can’t see why we’ve been so fascinated with apeing the US and the UK for so long. Once again we need to set our own direction: we have a culture that’s ready for it with a greater sense of identity than we’ve ever had. I just wonder if we have a government, local or national, courageous enough to embark on this.

Tags: , , , , , , , , , , , , , , , , , , , , , , , ,
Posted in branding, business, China, culture, globalization, marketing, New Zealand, politics, social responsibility, Sweden, UK | No Comments »


How can we help those fooled into believing what their local brands are?

06.01.2016

How interesting to see a silly Tweet of mine make the Murdoch Press and lead an opinion column—I’m told it even hit the news.com.au home page.
   It’s a very old joke that I’ve told since 2002, when I walked along Bay Road in Kilbirnie and saw a locksmith sign in Futura. Back then, Dick Smith Electronics had its logotype set in ITC Avant Garde Gothic. I really thought it was a Dick Smith sign at a first, fleeting glance, seeing CKSMITH. The joke was born.
   Most in my social media streams got it except a couple of Australians who had likely come across it via Murdochs a day late, one calling me ignorant (not sure how you can get that from one Tweet), and another ‘ahole’ (is this a misspelling of aloha?). As the funniest guy in their media is John Clarke, who was born in New Zealand, maybe humour doesn’t reach a couple of households there if it has to be imported. And the number of times John’s taken the piss about us, to my thorough enjoyment, means that some of us can take a joke. Perhaps we just have a sense of humour. We have to: it was the only way we could deal with our PM appearing on The Late Show with David Letterman. It is, to quote the man, ‘a bit of banter. No drama.’
   The false indignation “on behalf of others” is always a comical one, because it’s usually founded on a misplaced and unjustified sense of superiority. During a political campaign, they’re the ones I find the most humorous and least authoritative. Thick skin came with that territory.
   Neither deserves a response beyond what I said on Twitter, but the second one (with a fresh new account to troll from, always a good sign of someone who won’t stand by their words) highlights a point that I have made on this blog before.
   “Ruby Pond” notes, ‘The guy is pure Oz and started when you were in nappies and tried! Stick to your foreign companies, they really help Oz.’ I’m not sure what I was tried about, not having been to court while I was in nappies, but maybe she’s depending on the fact that not everyone remembers back to their infancy.
   Well done. She got this from an American-owned newspaper website (remember, Rupert’s no longer an Australian, nor is the HQ in Australia and hasn’t been for a long, long time), and, for the record, I’m not as old as the business that Dick founded. There’s also a suggestion that I must be Australian, because, after all, everyone on the planet must be. No other countries exist. I didn’t want to get into trans-Tasman rivalry in such a situation, nor was it appropriate to give a list of Australian corporate misdeeds in New Zealand. The term off-topic springs to mind.
   I told her, ‘Stick to your foreign media, they really help Oz.’
   Hers is that simplistic thinking that gets people supporting foreign-owned businesses when they believe they are supporting local ones.
   Dick’s been one of my personal heroes since his solo helicopter flight and I’ve been a customer of the chain he founded since I was old enough to buy my own tech gear. Entrepreneurs like him are the ones I’ve always encouraged, through mentoring and through my policies. However, the sad story of the company, no longer owned by Dick, is one of corporate greed—which the founder himself has been critical of. We haven’t learned the lessons of so many economic crises: Gordon Gecko’s mantra of ‘greed is good’ continues to drive the corporate world.
   The reason so many multinationals buy local brands is to fool the public into thinking they’re supporting their own. We’re guilty of it ourselves, and I recall using the examples of Just Juice and most of our local newspapers on this blog. People closed accounts at the National Bank when it became ANZ here, because of a suspicion of, dislike of, or rivalry with Australia, perceiving National to be a local bank. The problem there: ANZ had owned the National Bank for years before the rebranding of its own subsidiary, and prior to that it was part of Lloyds TSB in the UK. A lot of Australians think Ford and Holden are domestic players (though, oddly, not Toyota, which probably builds as many, if not more, cars there), just as many Britons still think they are buying British when they shop at Ford and Vauxhall.
   The situation with news.com.au differs slightly in that that business was started in Australia by Rupert Murdoch’s Dad, and it has grown from there—but the fact remains that its HQ is overseas and that’s where it pays its tax. Help to Australians: not a lot. The Murdoch Press’s globalization agenda won’t be one that the “buy Australian” crowd would support for the most part.
   But this is how brands work, because they encourage us to make mental shortcuts for the products and services we consume. I’ve devoted a good deal of my professional life to it. Some should encourage scrutiny because of the power they have (Wally Olins noted, many years ago, how some brands need to adopt notions that were once reserved for states), and it was hoped that, post-No Logo, we would be more inquisitive about the backgrounds to the organizations we support.
   Even though it’s our money and time, the sad thing is that this level of inquiry remains the province of the few, those people who are willing to scrutinize their own behaviour and practise what they preach. Social media have helped spread news of corporate misbehaviours (Volkswagen will attest to that) and more people are aware; but to counter that we get more information than we ever used to, and unless something resonates, will we just forget it?
   Therefore, it can only be something where people who have done the proper investigation get to have a say. And like all human endeavours, it can be scammed, so safeguards have to be built in.
   One of the reasons the Medinge Group awarded its Brands with a Conscience accolades for close to a decade was to champion the organizations that were getting it right, inviting transparency and scrutiny, championing good corporate citizenship, and engaging in socially responsible programmes. Among them were companies devoted to doing things right by the communities they were present in, whether it was Dilmah Tea, Tata Steel or Hennes & Mauritz.
   By our championing them, selected by a think-tank of leading brand professionals, we would be able to highlight shining examples of branding, as well as give them the sort of boost they deserved. If positive companies could increase their custom, and if positive non-profits could increase their influence, then we can do some good in the world.
   As people rightly want shortcuts in their busy daily lives, then the work at Medinge, if seen as an endorsement, would help them make a decision about whether to deal with that organization or not.
   It’s nice to be in that bubble, which makes me ever-grateful to get reminders that we still have a lot of work to do. If you’re genuinely desirous of helping your own, then we need to help create more ways of reminding people which organizations do just that. The Brands with a Conscience programme was definitely a very good way of doing it. What shall we do, in the post-peak-Facebook world of the second part of this decade, to get word out? Is it through video, thanks to greater bandwidth, that allows us to experience and understand more? Is this the coming of age of some form of virtual reality? Or, as we did when we first started exploring bulletin boards and email, time again for us to reach out to people in communities very foreign and different to ours through video chats—something like Google Hangouts but actually with people? (Yes, I know, Google fans, I was taking the piss.) Is Skype the service on which this can be built?
   I would have said that technology is the great democratizer, and maybe more of us should be giving out awards to truly deserving organizations, voted on by more of the public. But we come across the issue of quality versus quantity again: the Reputation Institute surveyed 60,000 people in 15 countries and still wound up with Nestlé among the most reputable firms in the world. Nestlé may do very good things in some quarters, but it hasn’t been able to avoid a lawsuit by environmental and public interests groups in California over its water-bottling operation there, or accusations by activists who believe the company wants to privatize water at the expense of public health. Volkswagen was there in the 2014 survey. We decide on image, and that image is the very thing that gets us making bad choices.
   The next innovators are already on to it, and we don’t even know that we seek it. But, in order to self-actualize, maybe organizing us—individuals, not corporations—into global communities is the next stage. We have seen Kiva work so positively, so how about making it more interactive? Naturally we will tend to choose to help those in our own countries first—crowdfunding campaigns show us that—but allowing us to understand another human being’s situation could be the challenge in a time when governments pursue their austerity agenda. Somehow, we can restore, at least to some degree, the optimism we had when we in the first world accessed the World Wide Web for the first time.

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,
Posted in branding, business, cars, culture, globalization, humour, internet, marketing, media, social responsibility, technology, UK, USA | No Comments »


What’s on the door can count more than who runs the shop

06.02.2013

I walked into the National Bank yesterday to sort out something for Dad—years ago, we gave each other signing authority on our accounts. They had misplaced that authority—a bit worrying if a bank doesn’t hold on to things over 10 years old—but, with the transition of the National Bank branding to ANZ, it reminded me of an interesting phenomenon.
   Most folks know that ANZ has owned the National Bank since the early 2000s. There were always rumours that the Lloyds horse would be retired as the licence would expire, and that eventually, everything would bear the ANZ brand collateral. ANZ had sent out letters in the past talking about the acquisition, but that everything would stay the same—until last year, when it said that it would finally take the best of both organizations and combine them under a single ANZ brand.
   Fair enough. It might mean the closure of branches where both banks existed, for cost savings, but it was inevitable.
   The surprise was this: the announcement of the rebranding of the National Bank brought mass defections to other banks. Westpac, Kiwibank and TSB mounted campaigns to attract departing National customers. My friends at TSB, where I have banked happily since the late 2000s, said potential customers came in, with at least one commenting (ironically to the Australian-born staff member there), ‘I hate Australians.’
   But to those Aussie-hating National Bank customers: you have been banking with Australians for the good part of the past decade, and the only thing that will be changing is the logo on the façade.
   There was no ownership change, no change on the board of directors, nothing.
   It brings home that people can be loyal to an organization simply of how it looks to them outwardly, even if, inwardly, it’s owned or run by people they might “hate”.
   There’s nothing wrong with this behaviour, but it’s something for branding consultants and advisers to bear in mind: never underestimate the effect of brand loyalty even in an age where we advocate transparency. There are some that opt not to peer behind the corporate veil.
   This is the reason that certain publications are still seen as locally owned even when their share holding in the Companies’ Register says differently, or that no one seems to mind that the vast majority of our New Zealand fruit juice brands are in the hands of Japanese and American companies. Just Juice and Fresh-up aren’t really competitors, just as ANZ and the National Bank have not been for years.
   At the end of the day, does any of this matter? A little, if “Aussie-hating” stems from an opposition to profits heading offshore rather than, say, TSB’s community trust. It’s not very ANZAC of anyone to hate our neighbours, but if folks truly think this way, it’s worth understanding just whom owns what, and do your business or shopping accordingly.
   The same rule, I might add, applies to political parties: does “your party” actually stand for the values you think it does? Or, for that matter, does your preferred political candidate?

Tags: , , , , , , , , ,
Posted in business, marketing, New Zealand | 3 Comments »


Today’s adventures with US dollars and New Zealand banks

14.11.2011

National Bank Asian Banking
Above: I’m Asian, and I want banking. National Bank gets me again. (For that story, click here.)

Out of the businesses I have, one is unincorporated, and it has a US dollar bank account based in New Zealand. Over the years, it’s been at numerous banks, and was at the ANZ.
   Until the ANZ began charging a deposit fee for foreign cheques. It seems that the ANZ does not understand the basic principle that a deposit is a loan by the customer to the bank. I would only accept such a fee if, when borrowing money from the bank, I can charge it a Jack Yan Is Good Looking and Humble fee, but, alas, the bank said it would not accept such a term, nor such an outrageously false name.
   So the account went over to the TSB, still my preferred bank by some margin, but it would have to be a term deposit—that was the rule back in 2006. However, I was advised that it could be turned into a call account, which sounded closer to what I had at the ANZ, but without the ridiculous deposit fee. That would work for me—plus I needed an account where I could deposit US dollars and not be a two-time loser on the exchange rate when depositing and withdrawing money because of using a Kiwi account as an intermediary.
   Unfortunately, the rules have changed. TSB will only open a new account for foreign currency for legal persons, and an unincorporated business is not a legal person. That’s fair enough, though it doesn’t help me. HSBC, for whom TSB acts agent, is in the same boat after I enquired there today about its market currency account. However, I should note that, unlike many other businesses, I had a competent person on the phone who could answer all my questions with only a total of one minute on hold.
   So, what are the alternatives? After visiting several banks, I don’t believe I have any answer.
   Kiwibank, a division of Johnny Foreigner Bank (2013) Ltd., did not know. The teller believed that I might be able to, but it was done over the phone, not in person. She was unsure how I could deposit cheques over the phone. I couldn’t find the slot on my phone where I could insert a cheque.
   The National Bank, a division of ANZ, still charges a deposit fee. I was shocked to learn that the fee has increased to NZ$15. I was pretty sure it was NZ$5 when I left the ANZ group. Stuff that. Enough horsing around.
   The BNZ, a subsidiary of yet another Australian bank, was unable to advise me whether I could open an account without my making an appointment.
   I have yet to try Westpac, where Lucire Ltd. has its account here, but Lucida turns me off. I may have to check them out next, but I would really prefer a New Zealand-owned bank. As I write this, I realize there’s also the Auckland Savings Bank, also owned offshore, but they may be able to accommodate me (goodness, a decade of Goldstein and it’s still not in my consideration set?). Might have to be a trip into Bay Road tomorrow.
   Where does John Key keep his $50 million? Maybe that’s where I should put these funds.

Tags: , , , , , , , ,
Posted in business, humour, New Zealand, USA, Wellington | No Comments »