Unlike major rivals the Commonwealth Bank of Australia and the National Australia Bank, ANZ has not pursued a core banking overhaul project in Australia. Instead, in briefing documents today, it said over the past while it had continued to focus on core banking re-development in the Asian markets, as well as New Zealand, where its accounts will see a one-off NZ$98 million charge this half relating to core banking projects in the country.
The bank said its shift to a single core banking platform in the country was slated to drive operational efficiencies, improved services levels and other business outcomes - reflecting similar benefits which CommBank claims to have achieved with its own core overhaul in Australia. 'Our move to a single core banking system later this year is progressing well and this will improve our ability to innovate and to serve our customers,' said ANZ NZ chief executive David Hisco. 'This work is aimed at simplifying the way we operate and improving our customers' experience.'
ANZ also focused on launching its cash management platform Transactive throughout Asia and in New Zealand in the half - which the bank has billed the first integrated cash management and paymanets platform across Australia and the Kiwi nation.
In Australia, the bank appears to have primarily focused on developing technologies which affect its end users directly, mentioning investment in customer-facing technologies such as development of its internet and mobile banking platforms, as well as the implementation of multi-lingual ATM machines, consistent with its strategy of becoming the Australian bank of choice for Asian migrants.
The bank's iPhone application, goMoney, offers features which the other banks' mobile apps do not - such as the ability to transfer money from customers' accounts to non-customers directly, requiring just their mobile phone number. ANZ has also recently launched an iPhone app in Taiwan.