ANZ Bank's bet on new technology at the the core of its new credit decision platform was named finance project of the year at last night's 2016 iTnews Benchmark Awards.
ANZ took a chance on the then-unknown PowerCurve technology when it was forced to overhaul its seven existing systems for credit reporting by the introduction of comprehensive credit reporting obligations last year.
Knowing that positive credit reporting was on the horizon, ANZ took the bold step of completely overhauling its existing approach, consolidating its seven existing systems into one based on PowerCurve.
The move gave the bank not just a single credit decision capability across its retail portfolio, but also set it up for when positive credit reporting eventually takes effect.
ANZ customers now benefit from much faster and more automated credit card system approvals no longer delayed by human intervention.
"It's great that our technology is being recognised for making a difference for our thousands of customers, and for making a big difference in their lives and in their banking," Turner said.
ANZ managed to come out on top in an extremely tight category. Congratulations go to fellow finalists Richard Holmes of Westpac for the data centre migration program, and Darren Oliver from Herron Todd White for Project HAWK.