Miranda is among the Bankwest branches set to close this year as the company shifts its focus further towards online banking.
Bankwest announced on July 18 it would close selected east coast branches, as it prioritises its investment in digital and broker/third-party offerings to meet changing customer needs.
A total of 29 branches will close across a three-week period from August 17, concentrating Bankwest’s east coast footprint into 14 key branches.
Miranda will close on August 31 but Hurstville will remain operating.
The move is the latest step in the bank’s strategic re-focus announced in March, on evolving and improving its offering to retail and small business customers nationwide.
Affected customers will receive guidance on alternative banking options available to them by email, letters and store signage.
Closures will affect about 200 staff but Bankwest says it is placing a priority on supporting these people in the coming weeks.
Managing director Rowan Munchenberg says rapid changes in the digital space require Bankwest to make important decisions on where to invest to deliver great value for customers and grow nationally.
“Many people still value face-to-face interactions, but customers increasingly expect seamless self-service options that allow them to do their banking when and where they choose,” he said.
“We’re seeing a consistent trend of customers choosing mobile banking over in-branch options for their transaction needs, with an 88 per cent rise in app logins over the past three years.
“So, we’re transforming our organisation to respond more rapidly to these changing customer needs by adopting new ways of working and embracing new technologies.
“But we know we can’t match the major banks’ nation-wide footprint and also deliver world class digital services, so we will prioritise digital channels and broker relationships.”
Mr Munchenberg said the change had been a difficult decision, given a significant number of east coast employees would be affected.
“We will work with and support impacted colleagues in the coming weeks, doing what we can to help them identify other opportunities, be they within or outside of the group,” he said.
“We are writing to affected customers to outline options, such as using Australia Post’s Bank@Post services and, for business customers, taking advantage of CBA branches.
“Ultimately, this change means we can provide better services to more customers in the future.”