HGH - Heartland Group Holdings

[bullfrog]

Bought in when I saw their link to harmoney, thought it showed foresight and courage underpinned by some solid numbers. However, got my fingers, toes and arms crossed with the implementation of oracle. Never underestimate the disruption upgrading core systems cause, just hope they don't get too distracted by doing business with themselves rather than growing the business with others.

[artemis]

Bought in when I saw their link to harmoney, thought it showed foresight and courage underpinned by some solid numbers. However, got my fingers, toes and arms crossed with the implementation of oracle. Never underestimate the disruption upgrading core systems cause, just hope they don't get too distracted by doing business with themselves rather than growing the business with others.

Very true about core banking systems. Kiwibank SAP implementation CoreMod is behind schedule and over budget. Budget blowouts in core banking have a lot of zeroes.

[percy]

Retail Bond issue.....most probably between $100mil and $120 mil.This will add diversity and some strength to HBL's borrowings.
Note 19b.When when talk of 6% unemployed ,we forget that it is 94% full employment.
Same here.98.2% of receivables are not 90 days or impaired.

[Onion]

P.S. The Heartland digital platforms are not as good as the Auusie bank's own digital platforms. So nothing of interest to acquire there either!

I agree Snoopy. While it is good that Heartland are investing in their digital platforms (absolutely needed to reach enough customers without a lot of bricks and mortar), they will never be able to match the IT investment of the bigger banks.

Having recently opened a new Heartland account I would say it wasn't the smoothest digital experience and required two phone calls and the submission of forms three times.

[BlackPeter]

I agree Snoopy. While it is good that Heartland are investing in their digital platforms (absolutely needed to reach enough customers without a lot of bricks and mortar), they will never be able to match the IT investment of the bigger banks.

Having recently opened a new Heartland account I would say it wasn't the smoothest digital experience and required two phone calls and the submission of forms three times.

Just wondering - its not just you reporting a mediocre digital experience with Heartland. On the other hand - they said that they only completed the upgrade of their IT systems in May. Is it possible that we are seeing here just teething problems of a new system or the aftermath of a painful handover, or is the new digital experience really that bad?

Maybe I need to start a trial run myself ; I hear their on call interest rates are tempting ....

[suse]

I opened an on call account with them in May just as they changed over, and it was a bit nightmarish getting access to internet banking but it was really just a timing issue - although customer service could have been improved as part of that. Nonetheless I am happy that my money is now earning 2.75% instead of next to nothing with ANZ. Comparing the online banking between ANZ and Heartland though is like comparing an apple with a fish.

What was interesting though was how quickly ANZ was on the phone to me to "review" my banking requirements when I took that big chunk of money out.

[peat]

Retail Bond issue.....most probably between $100mil and $120 mil.

How are you making this estimation Percy ?

[percy]

How are you making this estimation Percy ?

Undisclosed reliable source.!!

[winner69]

So $78m through Harmoney ....that's good

Harmoney hardly Peer to Peer is it - been hijacked by finance companies ...but who gives a stuff if Heartland have another shopfront

[peat]

Undisclosed reliable source.!!

thank you, I was just wondering whether you were guessing or not.

quite a small issue then....