Briefs: Gateway Bank CEO, LMI deal Genworth, ASB IDs app

Banking Day staff
  • Lexi Airey will take over the reins of NSW-based mutual, Gateway Bank, from next April. Airey replaces long-serving chief executive Paul Thomas who has served in the top post since 2005. Airey has been Gateway's chief customer officer since 2014.
  • National Australia Bank has entered a two-year deal for Genworth Mortgage Insurance to provide lender's mortgage cover on home loans the bank originates through broker networks. The deal does not cover LMI for mortgages marketed by NAB through its proprietary distribution channels, such as branches. NAB uses QBE to supply LMI on home loans it sells directly to borrowers.
  • ASB has launched a mobile app enabling new customers to open an account by uploading a selfie. The ASB ID app compares the photo to a photo of an official ID (either NZ driver's licence, NZ passport or Australian passport) that the customer must also upload. ASB says the process (developed by VIX Verify) takes about 15 minutes and the customer can then start making transactions on the same day. It follows the introduction of a similar app by BNZ, although the BNZ one requires new customers to upload a video of themselves.