Bendigo to offer online share trading through TD Waterhouse Investor Services
Bendigo Bank has joined forces with TD Waterhouse Investor Services, a subsidiary of TD Waterhouse Group, Inc., to offer online share trading to its customers within a month.
Bendigo's Managing Director, Rob Hunt, announced today that the Australian arm of TD Waterhouse, one of the world's leading discount brokers, will be the preferred provider of online broking services to the bank's 600,000-plus customers.
"This follows the recent announcement of our online financial portal and furthers our aim to provide a complete range of online financial services," Mr Hunt said.
"There is already a very strong demand indicated for online share trading within our customer base and our strategic alliance with TD Waterhouse delivers an award-winning service that provides a broad range of products and services at good value for money.
"The alliance will also strengthen customer loyalty and add to the depth of services on offer to Bendigo customers, of whom 10 per cent are already e-bank users."
TD Waterhouse Managing Director in Australia, Karen Buck, welcomed Bendigo Bank's strategic alliance with TD Waterhouse.
"This alliance is a real advancement for both firms, and TD Waterhouse is very excited about building a successful relationship with such a dynamic and leading financial services firm.
"Bendigo customers will be able to conveniently access our services via the Bendigo site or directly, and will be able to take advantage of our award-winning services, including an improved information and research centre, U.S. share trading, a recently enhanced investor centre, and the speed of straight through processing.
"We will make it easy for Bendigo customers to settle their trades via their Bendigo Bank accounts, and we look forward to working closely with Bendigo Bank to promote our services and put in place a seminar program to benefit Bendigo customers."
Globally, TD Waterhouse has more than 3.3 million active customers and more than A$250 billion in customer assets under administration. The firm has operations in Australia, the United States, Canada, and the United Kingdom. It also has joint ventures in Japan, Luxembourg, Hong Kong and India to serve investors in those countries.
Mr Hunt said continuing enhancements to Bendigo Bank's online services were an important part of the Group's strategy.
"The aim of all our business units and our community development activities is to help customers achieve their financial goals and to improve the choices for those communities we serve.
"If we can meet those aims, and we are their preferred supplier of banking and financial services, then our business automatically becomes more successful. To do that, though, we need to be equipped with the full kitbag of financial products - which will involve, when appropriate, forming strategic alliances with leading firms like TD Waterhouse.
"Recent web developments - including the portal, online share trading and an online business platform that includes advanced features such as multiple signatory support - mean we are competitive in all areas and ahead of the game in some. That makes Bendigo an attractive online option and further improves our capacity to enhance the prospects of our communities, particularly in regional Australia where online choice is often the only choice available."
For further information contact:
Owen Davies - Group Public Relations Manager, Bendigo Bank (03) 5433 9866 or 0418 521 817
Peter Duvall - Head of Marketing, TD Waterhouse (02) 9994 9500
Julianne Dowling - Fleishman-Hillard Stratcom (02) 9956 8000 or 0416 208 770