ANZ begins to reap results from tech transformation

ANZ Bank has rolled out iPads to 1200 frontline bankers and introduced 400 smart ATMs under its ‘Banking on Australia’ transformation program launched 18 months ago.

ANZ chose not to follow the path of its rivals by completely overhauling its legacy core banking system, instead embarking on a $1.5 billion program involving the upgrade of its online and mobile presentation layers.

The project included the introduction of intelligent ATM machines, mobility for frontline bankers, video conferencing for regional branches and a contactless mobile payments trial. 

Late last year the bank revealed it had so far spent more than $150 million on the digital aspect of the program, and expects to spend up to $100 million annually for a number of years to come. 

ANZ today offered a glimpse into the progress of the program, revealing it is halfway to its initial goal of 800 new “intelligent” ATMs across the country. 

It started deploying the new ATMs - which replace face-to-face interaction for basic teller functions like cash and cheque deposits - in June last year. It hopes to eventually replace its entire network of 2800 ATMs across the country.

The upgraded ATMs have resulted in 26 percent of applicable transactions being transferred from branches to the new machines in the first half of 2014 compared to the previous corresponding period, the bank revealed today.

Since the 'Banking on Australia' program launched, over-the-counter transactions have fallen 9 percent, the bank said.

Additionally, ANZ has completed its rollout of 1200 iPads to all frontline bankers. The iPads run eight applications allowing staff to access an app catalogue, training resources, record notes relating to a customer, identify customers, conduct 'A-Z reviews', and video access specialists.

ANZ has more recently been working on revamping several mobile applications, adding new navigation and personalisation options to its GoMoney mobile banking app and FastPay mobile payments app for small business.

It will also launch an upgraded online banking site within the next year, which along with the mobile applications, sits on a multi-channel SAP platform. 

Reaping results

Customer complaints have fallen 24 percent since the introduction of 'Banking on Australia', ANZ said today.

The bank has also experienced an improvement in operations productivity as a result of its technology initiatives - up 10 percent in the first half of fiscal 2014 compared to the previous corresponding half.

Additionally, “run the bank” productivity grew 20 percent. Online card activations were saving ANZ’s call centre staff 36,000 calls a month compared to the first half of fiscal 2013.

The bank now counts 53 percent of its customers as digital users. Around 1.1 million customers actively use its ANZ GoMoney app, the bank said, which has processed $78 billion in transactions since the program launched.

The bank's technology strategy was, until earlier this month, lead by ANZ CIO Anne Weatherston. Weatherston announced her departure at the start of April after three years with the bank, with group chief operating officer Alistair Currie to act as interim CIO while ANZ looks for a replacement.