KIWIBANK WINS BEST DIRECT CHANNELS INITIATIVE AT FINANCIAL INNOVATION AWARDS

London, New York and Wellington - 22 November 2007

Kiwibank, a young New Zealand bank known for its innovative approach to banking, has won the Financial Innovation Award for 'Best Direct Channels Initiative - Mobile Phone category' offered by the ifs School of Finance. This accolade, which was presented at the Financial Innovation Awards Ceremony in London on Wednesday, is further recognition of Kiwibank's successful mobile banking services.

Fronde Anywhere, a leading provider of mobile products for the financial services and corporate sectors, partnered with Kiwibank to provide the technology behind this award winning mobile banking solution. The Kiwibank mobile banking facility enables a customer to use a mobile phone for virtually all the banking services available on the Internet. This includes viewing account balances and transactions, transferring funds between accounts and making payments to other parties.

Gary Millner, director of Corporate Relations and Communications at the ifs School of Finance, said: "The ifs Financial Innovation Awards are now firmly established as one of the most prestigious in the financial services industry. Entries from organisations across the globe combined with a rigorous judging process mean that those who win one of the award categories, such as Kiwibank can take pride in having truly excelled in the industry. Put simply, the awards have again provided a great opportunity for innovators in the financial services industry to gain recognition for their efforts."

Fronde Anywhere executive vice president, products and marketing, Caroline Dewe, was in London to collect the award on Kiwibank's behalf. "We're absolutely delighted to be recognised internationally alongside Kiwibank at these prestigious awards," she said. "It reinforces Kiwibank's strong growth and commitment to mobile banking as a key part of its multi channel strategy."

Sam Knowles, CEO of Kiwibank commented: "It is incredibly exciting for a small bank like Kiwibank, in partnership with Fronde Anywhere, to get this kind of international recognition. At Kiwibank, we see mobile banking as the way of the future, and we are continually committed to being at the forefront of technical innovation."

The development of Kiwibank's Mobile Banking solution was a considerable and highly complex technical achievement and involved Kiwibank and both mobile network providers, working together to achieve some notable ground breaking achievements. This has subsequently led and shifted the market. Every bank in New Zealand is in the process of incorporating mobile banking services into their multi channel offerings.

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