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Article summary
MOVE Bank is profiled as an example of a loyalty-led growth strategy in a crowded banking market. The article highlights MOVE’s strong NPS performance and attributes it to clearer, more human brand positioning (“real people behind your bank”), reduced corporate jargon, and consistency across channels. Instead of leaning on acquisition tactics, MOVE focuses on retention and member rewards, tying the mutual model (profits reinvested into members) to trust and long-term advocacy.
Quotes mentioning Matt Farnham
- “We already had the great rates,” said Matt Farnham, MOVE Bank’s marketing & communications manager. “People just didn’t know who we were.”
- “We’ve made a real shift in the way that we portray ourselves, to engage more authentically and use as little corporate jargon as possible. We made a shift to show the real people behind your bank.”
- “It was designed so that if you were already using us as your main bank, you were probably going to be entered into the draw without you doing anything extra,” Farnham said.
- “It’s very effective to be able to say variations of ‘our profits are reinvested back into better products, rates, services, community - not into shareholders pockets. I also find that that’s a very easy concept for people to understand quickly," Farnham said.
- “The more personal we make the relationship, the harder it is to leave,” he said. “We see retention not just as a metric, but as an outcome of trust, value and recognition. If we can continue delivering on those consistently, the goodwill becomes long-term loyalty.”