In Australia, ANZ has seen a 30 per cent jump in sales via digital channels in the last year, and a 110 per cent uplift in the last three years.
“By investing in digital, we’re … helping engage customers in a way that they want,” the bank’s CEO, Mike Smith, said during the presentation of ANZ’s full year results today.
“And that is happening with every part of our business,” the CEO added.
Australian transactions via digital channels increased by 10 per cent over the year, and have increased by 39 per cent since 2012. The number of Australian digitally active customers grew 9 per cent during the year.
Mobile banking now accounts for 62 per cent of Australian digital logins, and the bank’s goMoney app processed $64 billion worth of transactions in FY15.
The number of customers using the goMoney app, which was launched in late 2010, grew 89 per cent during the year.
ANZ has also seen growth in digital transactions in the institutional banking segment, Smith said.
“We have completed the roll out of Transactive – that’s our cash management platform – in 17 countries,” the CEO said.
“And Transactive processed over $2.5 trillion in value for our customers in 2015 and is driving the growth of our cash management business.”
“Digitisation is becoming central to ANZ’s business operations, reshaping how ANZ works, not just how technology enables better solutions for customers,” the bank’s full year financial report states.
“The Group’s aim is to create a digital bank; one that allows us to stream operations such that we deliver fast, easy and innovative solutions for our customers while also reducing the operational complexity of the organisation and thereby improving productivity and reducing risk.
“ANZ has invested in digital across the Group, delivering multichannel platforms that have globally extensible capabilities covering aspects like employee mobility, products (GoMoney and MobilePay), security systems and more intuitive internet banking.”
Technology expenses for the group grew to $1.462 billion during the year, up 15 per cent.
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Of the $196 million increase, $30 million was due to foreign exchange translation and $166 million was due to
increased depreciation and amortisation on key infrastructure projects, higher data storage and software license costs and the increased use of outsourced and managed services, the bank said.