AMP in major savings account drive

Mozo

Wednesday 04 March 2009

With data showing that the country is heading into a recession, AMP has launched a major rebranding strategy in the hope of signing more people up to its bank term deposits and savings accounts.

You may well have seen or heard adverts from the company’s AMP Banking arm, which launched a TV, radio and internet campaign across the country on Sunday (March 1st) in a bid to attract new bank savings accounts and term deposit customers.

Speaking to Business Daily, the man in charge of the plan Robert Slocombe said that the company was hoping to funnel the deposits back into its home loan business to give the bank a new lease of life.

"We’ve cleaned out our product range. The strategy now is about organic growth – it’s about raising deposits and recycling those funds into our mortgage business," he explained.

AMP Banking aims to revolutionise the world of home loans, credit cards, savings and term deposits with an internet-only service that cuts out the middle man to offer cheaper deals.ADNFCR-1761-ID-19057507-ADNFCR

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