Innovation in Banking - Gateway Bank

The word "innovation" is thrown about in media releases by a multitude of businesses including banks. But just how much innovation have you really seen? Since Gateway Bank was founded in 1955 with just one employee and a briefcase, they’ve always been pushing themselves to do business in the right way by being innovative.

Today, we’ve got Zeb Drummond and Arun Gupta from Gateway to clue us in on a range of innovations at Gateway and their accelerated commitment to their customer’s pockets and the planet.

Monthly LMI

First up is the monthly Lenders Mortgage Insurance (LMI) launched in collaboration with Genworth that has turned the whole home purchasing experience on its head.

Eco visa debit card

Traditional debit/credit cards are made from PVC which is petroleum based. Gateway’s Visa Eco Debit Card, on the other hand, is made from plants and kind to the planet.

Green Home loan Package

Gateway also developed two new green home loans with a competitive home loan rate to help you do your bit for the environment.

Both loans are Premium package loans with an annual fee, all features of premium products including 100% offset functionality

They’re currently only available to 80% LVR for owner-occupied purposes and offer a variable interest rate. They do also have the ability to be used for construction purposes, as long as it meets the environmental criteria for each loan.

“We want to do well from a planet perspective. The intention and the view here is a home loan rate with a discount to it as an incentive to help people on their way to be more environmentally-friendly and eco-conscious” – said Zeb