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Bendigo and Adelaide Bank Ltd (ASX:BEN) to shake off second-tier reputation with digitisation

According to an article in The Australian, Bendigo and Adelaide Bank Ltd (ASX: BEN) has launched a new digital initiative to better connect with millennials.

But will it be enough to turn things around for the financial services group?

If its 12-month share price chart is anything to go by there has been some volatility to contend with of late.

CEO Marnie Baker told The Australian a recent survey showed many think of Bendigo bank as a “second tier” institution, with the digital initiative a push to change this perception.

With the Royal Commission in play, top-tier banks have had some tense times, with Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd. (ASX: NAB), Bank of Queensland Limited (ASX: BOQ) and Westpac Banking Corp (ASX: WBC) all slipping to multi-year lows in June.

Now could be the lesser-knowns time to shine?

With the spotlight on the big guys, shares in CYBG PLC/IDR UNRESTR (ASX: CYB), better known as Clydesdale Bank, have been rallying, hitting a 52-week high on July 6 at $6.21.

Clydesdale shares were at $6.14 at the time of writing.

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Motley Fool contributor Carin Pickworth owns shares of Commonwealth Bank of Australia and National Australia Bank Limited. The Motley Fool Australia owns shares of National Australia Bank Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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