THE COVID-19 crisis has brought massive challenges to Australia’s banking sectors, fuelled by widespread job losses and economic uncertainty.
More than 100,000 Westpac Banking Corporation customers have applied for mortgage repayment relief due to losing income or their job, since the bank released its consumer support package last month.
This package allows customers to defer mortgage repayments for up to six months, while other support measures have been put in place to assist credit card customers.
Lockdowns around the country have prompted a surge in the number of customers seeking to access online banking services to manage their money, and the bank has also implemented changes to make it easier for our customers to apply for a home loan completely online.
The bank’s customer service phone lines have been flooded with calls about bank services, debt support and home loans.
David Lindberg has been Chief Executive of Westpac’s Consumer division since April 2019.
He is responsible for distribution, digital, marketing, banking and insurance products and services across the Westpac, St. George, BankSA, Bank of Melbourne, BT, and RAMS brands.
He will be online at noon today (AEST) to answer your questions in an hour-long Q&A.
You can ask your questions in advance in the comments below or during the session.
Due to the number of questions, Mr Lindberg may not be able to answer everyone.