ASB Bank

What ASB Bank does

ASB Bank Limited is one of New Zealand's five largest retail and commercial banks, founded in 1847 and headquartered at ASB North Wharf, 12 Jellicoe Street, Auckland. The bank is a wholly-owned subsidiary of Commonwealth Bank of Australia and serves New Zealand personal, business, rural, and corporate customers through a multi-channel distribution model comprising a nationwide physical branch network (including regional banking hubs in smaller communities), 24/7 phone banking, ATMs, and digital-first platforms (FastNet Classic internet banking, FastNet Business, and the ASB Mobile Banking app). Its product portfolio spans transaction and savings accounts, Visa debit and credit cards, home loans (Orbit and Orbit FastTrack), personal loans, KiwiSaver, term deposits, foreign exchange, international money transfers, business and rural banking, insurance distribution (underwritten by AIA and IAG NZ), and online share trading via ASB Securities.

The bank's technology stack includes proprietary digital channels, biometric identity verification through the ASB ID app, Netcode two-step verification, open banking API infrastructure, and AI capabilities including the Josie chatbot, GenAI-powered chat, anomaly detection, and behavioral biometrics. ASB is a founding partner in Visa's Agentic Ready programme, testing AI agent-initiated payments alongside ANZ NZ, BNZ, and Kiwibank, indicating engagement with frontier payment-rails technology.

ASB's revenue model is anchored in net interest income from lending products (home loans, personal loans, credit cards, business loans), supplemented by transaction and account fees, insurance distribution commissions from AIA and IAG, and wealth management (KiwiSaver scheme management, ASB Securities share trading). The bank prices everyday personal and business accounts at zero monthly fees and zero annual debit card fees, relying on cross-sell, float, and interchange economics. Customer segments span personal banking (primary), business banking (small, commercial, corporate — primary), rural banking, and youth banking, with a hybrid segmentation approach across personas and use cases.

Name

ASB Bank

Legal name

ASB Bank Limited

Website

https://asb.co.nz

Company type

Private

Founded year

1847

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

ASB Bank is one of New Zealand's five largest retail and commercial banks, wholly-owned by Commonwealth Bank of Australia. It serves personal, business, rural, and corporate customers through branches, digital platforms (FastNet, ASB Mobile), and insurance and wealth distribution.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221), Commercial Banking (522110)

SIC

National Commercial Banks (6021), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industries

Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), BaaS Platforms & Sponsor Bank Enablement (FSAGALAA), Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF), Open Banking / Bank Data Underwriting (Consumer) (FSAKAKAF)

Keywords

• Retail banking services
• Home loan mortgages
• Business banking
• Wealth management
• Digital banking platforms

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Net Interest Income: Interest income from lending products including home loans, personal loans, credit cards, and business loans offset by interest paid on deposits.
2. Banking Fees and Charges: Transaction fees, account fees, credit card fees, international transaction fees, and overdraft fees on various banking products.
3. Insurance Distribution: Commission revenue from distributing insurance products underwritten by AIA New Zealand and IAG New Zealand.
4. Wealth Management: KiwiSaver scheme management, ASB Securities online share trading, and investment product distribution.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels3 records

Core offering

ASB Bank is a New Zealand retail and commercial bank providing personal and business banking services. Its core offerings include everyday transaction accounts, savings and term deposits, home loans, personal loans, credit and debit cards, KiwiSaver retirement schemes, insurance distribution, foreign exchange, and online share trading. These are delivered through digital platforms (ASB Mobile Banking App, FastNet Classic, FastNet Business) and a physical branch and regional banking hub network across New Zealand.

Product overview

ASB Bank offers a comprehensive retail and business banking platform delivered through a multi-channel architecture comprising digital-first core products (ASB Mobile Banking App, FastNet Classic internet banking, FastNet Business), card products (Visa Credit Cards, Visa Debit Card), lending solutions (Home Loans via Orbit/FastTrack, Personal Loans), savings and investment products (Savings Accounts, Term Deposits, KiwiSaver), insurance products (distributed with AIA and IAG NZ), and share trading (ASB Securities). The product portfolio is augmented by feature modules including Save the Change (automated savings), True Rewards (loyalty programme), Netcode (two-step security), ASB ID App (digital identity verification), and Josie (AI chatbot). Business customers access dedicated services through ASB Business Hub and commercial banking divisions. The bank operates as a subsidiary of Commonwealth Bank of Australia and is registered under the Reserve Bank of New Zealand Act 1989.

Differentiator

Problem solved

Functional benefit

Brands

• FastNet Classic: Internet banking platform for personal customers
• FastNet Business
• ASB Securities
• ASB Mobile Banking app
• Save the Change
• ASB ID app
• Josie
• Clever Kash

Products and services

• ASB Mobile Banking App
• FastNet Classic Internet Banking Internet banking platform providing around-the-clock account access, bill payments, automatic payments, foreign exchange, home loan management via Home Central, and share trading integration for personal customers.
• FastNet Business Internet Banking Internet banking platform for business customers providing commercial banking services, international money transfers, payroll management, and bulk payment capabilities.
• ASB Securities (Online Share Trading) Online share trading platform enabling customers to buy and sell shares on the New Zealand Stock Exchange (NZX) and Australian Stock Exchange (ASX), with custodial services and portfolio monitoring.
• ASB Visa Credit Cards Range of Visa credit cards including Visa Rewards, Visa Platinum Rewards, Visa Platinum Travel, Visa Business Rewards, and Visa Light, offering rewards programmes, travel insurance, and contactless payment capabilities.
• ASB Visa Debit Card Debit card linked to ASB transaction accounts, enabling everyday purchases, ATM withdrawals, and contactless (tap) payments with zero annual card fees.
• Home Loans (Orbit and Orbit FastTrack) Residential mortgage products including Orbit (revolving credit) and Orbit FastTrack home loans, with Home Central portal for managing loan details, repayments, and property information.
• Personal Loans Unsecured personal loans for various purposes including car purchases, with flexible repayment options managed through FastNet Classic.
• KiwiSaver Scheme ASB's KiwiSaver scheme for retirement savings, with True Rewards dollars transferable to KiwiSaver accounts and voluntary lump-sum contributions via FastNet Classic.
• Savings Accounts and Term Deposits Range of savings products including Savings Plus Monthly, Savings On Call (variable interest with instant access), and term deposits (fixed rates from 30 days to five years).
• ASB Insurance Products
• Business Banking Services Comprehensive business banking services including small business banking, commercial and corporate banking, rural banking, and the ASB Business Hub for business management tools and resources.
• Foreign Currency Account and FX Services Multi-currency accounts for holding and managing foreign currencies, with FastNet Classic Financial Markets Online supporting spot rate trades and FX management for personal and business customers.

Quantifiable outcome

• Canstar's Bank of the Year for Digital Banking, four years running

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability6 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• CMC MarketscoreStrategic or Co-development Partner · 4 June 2026ASB Bank is one of the major banking partners for CMC Markets' institutional and business-to-business channels, alongside ANZ Bank and Westpac. CMC Markets reported strong fiscal 2026 results and is actively scaling its B2B channels through these banking partnerships while expanding its multi-asset platform.
• VisacoreTechnology or Integration · 30 April 2026ASB Bank is a founding partner in Visa's Agentic Ready programme in New Zealand, working with ANZ NZ, Bank of New Zealand, and Kiwibank to test and validate AI agent-initiated payments using Visa's existing network infrastructure including tokenisation, identity verification, and risk management. The programme simulates agent-initiated transactions in controlled environments to explore how AI-driven commerce could operate across multiple merchants and platforms.
• IndusminorGTM or Marketing Partner · 21 April 2026Indus fintech platform enables New Zealand residents to invest in over 500 Indian mutual funds. The platform structures operations with client funds held in trust accounts at ASB Bank in New Zealand and custodied through DBS Bank in India.
• Commerce CommissionminorOthers · 5 March 2026New Zealand's Commerce Commission published open banking regulations update. ASB is one of the major banks required to provide standardized APIs under the Customer and Product Data Act 2025 framework, with payment initiation services scheduled to begin June 2026.
• AIA New ZealandcoreChannel Partner/ Reseller/ DistributorASB distributes insurance products underwritten by AIA New Zealand Ltd. ASB Insurance Managers may receive personal information including health information for underwriting purposes.
• IAG New ZealandcoreChannel Partner/ Reseller/ DistributorASB distributes insurance products underwritten by IAG New Zealand Limited including home and contents, car, and other vehicle insurance.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Market position

Strengths4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ASB Bank