Our commitment to a positive brand reputation
The financial services industry has been under increasing regulatory, political and customer scrutiny over the past few years. Incidences of poor customer outcomes have impacted the brands and reputations of the companies involved, and increased attention on our industry as a whole.
The Board has identified reputation risk as a material business risk (see page 18 of our 2017 Corporate Governance Statement).
At BOQ we don't take our social licence to operate for granted. We're committed to a sustainable business model supported by positive relationships with all of our stakeholders. Our sustainability framework outlines how we deliver our business strategy and contribute to the wellbeing of our stakeholders by:
- putting our customers at the heart of everything we do
- doing the right thing, with strong governance
- creating a place where our people love to work
- supporting the communities in which we operate
- responsibly managing our environmental impacts
Our aspirational vision is 'to be Australia's most loved bank' which makes our brand and reputation core to successfully delivering our strategy. Our people are united in working to bring this brand promise to life on a daily basis through our shared goal of proving 'It's Possible to Love a Bank', by maintaining the positive stakeholder relationships we need to be successful.
While all our stakeholder relationships are important, at the heart of our strategy is our close relationship with customers. In addition to being the central component of our sustainability framework, customer satisfaction, engagement and advocacy was again one of the top issues identified in our sustainability survey for the year ahead. Delivering for our customers means always aspiring to greater levels of customer satisfaction, connecting customers with the right products, being responsive to their changing needs, upholding our responsible lending obligations and resolving issues when things don't go right. You can find out more about how we're delivering on this as one of our major sustainability themes for the year ahead on our customers and products page.
We also recognise that given the current focus on the banking industry, it's more important than ever that our conduct and culture supports positive stakeholder relationships to retain the trust and confidence stakeholders have placed in us. We have a strong focus on ethics and business conduct sustained by strong risk practices, governance and oversight. We're also committed to maintaining a positive culture led by our values of integrity, collaboration, impact and passion. You can read more about how we're driving this as one of our major sustainability themes for the year ahead on our conduct and culture page.
A range of customer, people, community and environmental performance measures are available on our non-financial performance table.