ANZ’s new Share Investing platform struggles with day one traffic

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ANZ’s new Share Investing platform struggles with day one traffic

Extended log in troubles for customers.

ANZ Bank's Share Investing customers have endured a slow start to the week as the Bank's new platform underpinning the service struggled to meet demand.

An estimated 5,000 users experience prolonged log-in troubles on the platform, with issues emerging at around 10am AEST on Monday.

Initially some customers reported being advised to try updating their passwords to gain access to the platform, however when that didn’t work they took to the bank’s customer information line only to be met with lengthy delays.

While ANZ has previously run a retail investment platform in-house, over the weekend the Bank switched to a platform run by UK derivatives dealer CMC Markets at the weekend. CMC now runs Share Investing in as-a-service mode for ANZ.

An ANZ spokesperson told iTnews the transition to CMC Markets’ platform was successful, but unusually high trading volumes caused the login portal to falter.

However, the spokesperson said all other elements of the service functioned as expected.

The bank initially flagged that it wanted to outsource the service back in 2016, and announced CMC Markets as the new platform provider in March the following year.

Update

Users are still reporting issues with ANZ Share Investing as of Tuesday 2pm AEST.

Customers are saying problems with the new platform extend beyond the login page, with some unable to reach access the website's landing page.

Wait times for the service's customer lines are still high, with the bank now directing affected customers to email the Share Investing department or try calling at a later time.

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