NAB has this week launched an evolution of its strategy, the result of a program of work announced earlier this year.

Discussing the update, NAB CEO Andrew Irvine said the bank must aspire to more.

“We’re taking the strong foundations built during the past five years and we’re raising the bar.

“Today, we are recognised for delivering and for doing what we say we will do. But we have not translated that improved operating performance into better outcomes for customers and better advocacy with our customers. And we start changing that today.

“This is going to be a massive cultural shift for us. Customers need to be the everything of who we are and how we operate. We’re going to have to change how we hire, how we trade, how we promote, how we reward, where and what we invest in, how we run our technology estate, how we manage risk. Basically, how we run this bank end to end.

“This is going to take a significant change of how we all show up for work every single day.”

Mr Irvine added it was a bold and ambitious plan, one still centred around twin peaks of customers and colleagues.

“We are lifting our sights to become the most customer centric company in Australia and New Zealand. Not just the most customer centric bank – the most customer centric company,” he said.

“We continue to rally around our twin peaks of customers and colleagues.

“We want customers who trust us and choose us to be their bank. We need colleagues who are customer obsessed and proud to work at NAB.”

Further details will be shared at NAB’s Results on Thursday 7 November.