ANZ Group (ANZ) Investor Update summary

Strategic rationale and objectives

• Investment in the new platform was driven by competition from non-traditional banks, commoditization, rising customer expectations for digital, self-service, and real-time banking, and the need for better control and compliance.

• Four core objectives: deliver a better, faster, cheaper, and safer banking experience.

• The platform is designed to provide greater control, transparency, and financial wellbeing for users, focusing on building a more engaged and valuable customer base.

Technology and platform development

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

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

• The technology stack includes modern CRM, digital banking, identity, biometrics, and process mining tools, with over a dozen critical systems and 80+ new tech assets built.

• Achieved elite deployment frequency and change failure rates, with up to 38 production releases, 20,000 platform tests, and 40+ daily customer experience updates.

Customer proposition and experience

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

• Fully digital onboarding allows customers to join in minutes using biometric verification and instant account access.

• Features include digital joint accounts, roundups, ScanSafe security, open banking integration, scam protection, and add-ons for financial management.

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