Supporting our kiritaki (customers) to be financially secure starts with supporting our kaimahi (our people) first. This is making Kiwi better off.

Listening to kaimahi

This year, we spent time listening to kaimahi (our people) about what financial security means to them and what they'd like from Kiwibank to be more financially secure. This led to the development of a financial wellbeing programme.

Pilot programme launched

The programme is designed so it can be tailored to the needs of individuals by helping them take action to achieve their goals – whatever they might be. The programme, which was piloted from November 2022 to March 2023, included an assessment of current behaviours and financial goals, then focused on creating an action plan, supported by activities, learning content, and an in-house Financial Wellbeing Coach to help them stay on track. Every person that actively participated set around three goals which often focused on financial freedom, home ownership and emergency savings. Feedback from participants, as well as other measures, indicated the pilot was hugely successful.

Key outcomes from the financial wellbeing programme pilot

  • 89% of participants stayed engaged in the programme.
  • 53% of participants set a long-term financial goal and 100% of them took action to achieve it.
  • 100% of participants set a long-term financial goal and 100% of them took action to achieve it.

Short-term financial goals include:

  • Paying down short-term debt like credit cards or Buy Now Pay Later
  • Consolidating debt to make it easier to manage

Long-term financial goals include:

  • Buying a house
  • Being prepared for retirement
  • Having the right insurance to cover the unexpected

Improvements to benefit all kiritaki (customers)

Our Financial Wellbeing Coach found that child support payments weren't accepted as a valid form of income when applying for a home loan – creating a significant barrier to achieving a goal of home ownership. This has informed changes to be made to include child support payments as a source of income when assessing a customer’s home loan application. This change will benefit customers applying for a home loan who receive child support payments

Launching programme to all kaimahi

We'll be launching this programme to all kaimahi (our people) across Kiwibank to help our people build their financial wellbeing.

I now have the tools and knowledge to go further with my financial wellbeing and it will be a lifelong journey, which I'm so grateful for.
Lara Hares - Kaiāwhina Matau, Executive Assistant, Kiwibank Customer Business Leadership Team