ASB has opened a new state-of-the-art Innovation Lab to experiment with the future of banking with its customers.

Auckland, New Zealand -- (SBWIRE) -- 09/30/2013 -- Based below the ASB North Wharf building on the corner of Jellicoe Street in Auckland City, the Innovation Lab lets ASB people and customers test new technologies being used to perform a range of banking functions.

"Customers can perform all the regular banking functions they have come to expect at any ASB branch. The Innovation Lab contains a foreign exchange desk, a 24-hour ATM lobby but it deliberately doesn't look like a traditional branch environment," says James Bergin, ASB's Chief Architect.

"There are no walls of paper brochures or traditional teller counters, but rather customers will instead encounter a range of interactive technology designed to help them explore new ways of meeting their banking requirements."

The Innovation Lab trials different technologies and hardware prototypes developed by ASB, including gesture-based, interactive 103-inch plasma screens operated by Microsoft Kinect motion sensors. This allows navigation through digital brochures, real-time rates and videos using gestures and without touching the screen.

There are touch-enabled, wall and table mounted interactive multi-media displays enabling self-service navigation, exploring a completely different way for customers to interact with ASB retail specialists as opposed to the traditional behind-the-counter or behind-the-desk models.

The Innovation Lab also contains video-conferencing facilities and a state-of-the-art, NCR-brand touch-enabled ATM prototype – the only one of its type installed in the Southern Hemisphere. The prototype will allow ASB to explore merging the traditionally separate ATM, internet, and teller-based platforms.

"We are excited to be actively exploring the future of banking and most importantly, to be doing this with our customers who have a big part to play in deciding what that future looks like," says Mr Bergin.

"We encourage everyone to come and visit the new Innovation lab, to try out the new technology with our team of specialists, and to provide feedback to help us shape future experiments in the Lab, as well as the future of banking."

The Innovation Lab adds to the innovation benchmarks achieved in the design, construction and operation of the ASB North Wharf building, which is the most advanced commercial office building of its type in New Zealand and sets the benchmark in Australasia for sustainability.

About ASB Bank
ASB Bank offers bank accounts, personal and home loans, Kiwisaver, investments, foreign exchange, insurance, internet banking, credit cards and online calculators to help with your banking needs.

ASB opened its doors in 1847 with the pledge to 'serve the community; to grow; and to help kiwis grow.' We've done that over the years by not standing still; by continuing to rethink the way people bank and how they interact with their money; by not just being another 'bank'. Visit us today at http://www.asb.co.nz

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

ASB Kiwi Dollar Barometer tracks exporters’ and importers’ exposures to foreign exchange risk reports that businesses expect the NZD to peak against the US dollar in March

Auckland, NZ -- (SBWIRE) -- 09/13/2013 -- - Businesses expect the NZD/USD to peak at 0.803 in March 2014 before falling to 0.753 by September.
- Increased interest to hedge amongst importers due to expected depreciation.
- Majority of businesses shortened duration of hedging in response to recent shifts in the NZD.

New Zealand businesses expect the NZD to peak against both the USD and AUD in March 2014 before easing according to the latest ASB Kiwi Dollar Barometer.

"While both importers and exporters expect the NZD/USD to depreciate over the coming year, exporters are expecting a much larger decline in the currency by September 2014," says ASB Chief Economist Nick Tuffley. "This large divergence between importers and exporters' expectations likely reflects the high degree of uncertainty over the NZD outlook in light of the relatively wide range the NZD/USD has traded in recently."

The expectations of a depreciation in the NZD have seen increased interest to hedge amongst importers. In contrast, exporters have trimmed back hedging intentions. However, exporters that do intend to hedge continue to plan hedging a higher proportion of their FX exposures than importers plan to.

The Barometer finds the majority of businesses have reduced the duration of their hedging in response to recent shifts in the NZD, with exporters tending to shorten the duration of hedging by a greater length of time compared to importers.

"The NZD has traded over a relatively wide range in recent months, leading to increased uncertainty over which direction the currency will go in the coming year. Increased volatility also means it is now more expensive to hedge using options. These factors may be discouraging some businesses from hedging too far out in time," concludes Mr Tuffley.

About ABS
The ASB Kiwi Dollar Barometer tracks exporters' and importers' exposures to foreign exchange risk, through surveying businesses with annual turnover of at least NZ$1 million. The Barometer also surveys businesses' expectations for the NZD/USD and businesses' hedging plans for managing foreign exchange risk. For the September 2013 edition of the ASB Kiwi Dollar Barometer, East & Partners interviewed 385 businesses turning over at least NZ$1 million per year. The interviews were conducted from 23rd July to 2nd August. Businesses were asked a range of questions about their exposure to and views about the NZD. ASB Bank offers bank accounts, personal and home loans, Kiwisaver, investments, foreign exchange, insurance, internet banking, credit cards and online calculators to help with your banking needs. Visit us today at http://www.asb.co.nz

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

ASB releases regional economic scoreboard report which indicates South Island regions have surged ahead.

Auckland, New Zealand -- (SBWIRE) -- 09/13/2013 -- South Island regions have surged ahead in the latest Regional Economic Scoreboard with Nelson and Canterbury edging Auckland out of the top two spots.

Nelson leads the rankings, buoyed by strong growth in retail spending and a surge in residential construction as the region expands to accommodate with the influx of Cantabrians. Canterbury holds onto its second place in the latest rankings, boosted again by increasing construction. The earthquake rebuild has flowed through to an improvement in economic activity in the wider South Island, with the Tasman region also jumping to fourth place.

Meanwhile Auckland, after holding the top spot in 13 of the past 14 quarters, dips to third place. Housing shortages continue to push house price inflation in the region while overall constructional activity is still below levels experienced by the rest of the country.

The effects of the summer drought continue to be felt in some of the country's key pastoral regions, including Southland and Hawke's Bay. However, the recovery in global meat and dairy prices in recent months means the outlook should be more promising for the year ahead.

The ASB / Main Report Regional Economic Scoreboard takes the latest quarterly regional statistics and ranks the economic performance of New Zealand's 16 regional economic areas. The full report is attached and available online.

About ASB
ASB Bank offers bank accounts, personal and home loans, Kiwisaver, investments, foreign exchange, insurance, internet banking, credit cards and online calculators to help with your banking needs.

ASB opened its doors in 1847 with the pledge to 'serve the community; to grow; and to help kiwis grow.' We've done that over the years by not standing still; by continuing to rethink the way people bank and how they interact with their money; by not just being another 'bank'. Visit us today at http://www.asb.co.nz

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm