ANZ (ANZ) Investor Update summary

Strategic rationale and objectives

• Investment in the new platform was driven by competition, commodification, rising customer expectations, and the need for better control and compliance.

• The platform aims to deliver a faster, more transparent, and digitally focused banking experience centered on financial well-being.

• Digital-first approach enables simplified customer acquisition and servicing, reducing costs and improving experience.

Technology and platform development

• Adopted a 'hollow-out of the core' strategy, extracting key functions from legacy systems and reallocating them higher in the stack.

• Five guiding principles: cloud-native, API-first, reusability, automated controls, and simplification.

• Built critical systems in-house (e.g., Fabric, Lex) and partnered for best-in-class solutions (e.g., Salesforce, Ping, Zafin).

• Achieved elite deployment frequency and change failure rates, with up to 40+ daily updates and 20,000 platform tests supporting rapid innovation.

• Technology stack includes modern CRM, digital banking, identity, biometrics, and process mining tools.

Customer proposition and features

• Proposition centers on helping customers spend mindfully, save regularly, and borrow responsibly, with financial wellbeing tools.

• Fully digital onboarding, including biometric KYC, instant card issuance, and joint account opening in minutes.

• Innovative features include Round Ups, ScanSafe security, open banking-powered My Accounts, Add-ons for rewards tracking, and scam protection.

• Self-service features include digital statements, card management, dispute resolution, and credential recovery.