What does P&N Bank do?
P&N Bank takes pride in offering a genuine banking alternative to those who are looking for competitive and convenient retail banking services and outstanding customer experiences. In fact, their very purpose is to enrich the lives of their customers and communities.
P&N Bank’s branches serve members across Perth, Mandurah and Bunbury, alongside a vibrant Perth-based Head Office and Contact Centre. P&N offers mobile lending and broker services to fulfil the needs of customers who prefer to access our loans through those channels.
How does P&N Bank use Open Banking?
To leverage the opportunities available through Open Banking, P&N Bank have launched a Personal Financial Empowerment (PFE) app – mymo by P&N Bank. The three main features of the new digital PFE tool include:
- Multi-banking – Customers can link accounts from other financial institutions to have a complete view of their finances.
- Convenience – Providing a holistic view of customers’ financial position all in one place.
- Smart insights – Helping customers understand how they are spending their money.
What are the key benefits of Open Banking for P&N Bank customers?
While Open Banking will deliver long-term financial benefits to consumers through greater control and oversight over their financial health, the key benefits of the new mymo by P&N Bank app for customers are:
- Categorised transactions – Providing customers with a holistic view of their spending habits.
- The ability to set budgets – Customers are able to easily establish a budget, and then turn on alerts and reminders to keep on track.
- A personalised dashboard – Not all customers are the same, so they can customise which metrics or insights add the most value to them.
This case study is part of ‘The State of Open Banking 2023′, an industry report by Open Banking provider Frollo. The report provides a pulse check of the Australian Open Banking industry and an overview of exciting new use cases – some of which are Frollo clients, some of which aren’t. P&N Bank is a Frollo client.