ANZ Bank launches e-transformation

The ANZ Banking Group has launched an e-commerce strategy which aims to reshape its image to ‘an e-bank with a human face'.

David Boyles, head of technology, e-commerce and payments for the ANZ Banking Group, outlined the ‘eTransforming ANZ' strategy which he claims would embrace new technology to provide customers with a "multichannel, personalised experience". Key priorities include e-procurement, e-payments and eAsia, the latter based on a $US100 million joint venture with Overseas Chinese Banking Corporation Limited to set up an as-yet-unnamed online bank.

He said these initiatives would be achieved through a "robust and flexible infrastructure", resulting from a single IP network across the bank, and by rationalising core systems and platforms, and standardising desktops and servers.

Strong e-commerce capabilities would also be developed, Boyles said, through the e-commerce centre of excellence and the ANZ Ventures discipline. Business units and information technology would change the way they work together, he said.

Boyles affirmed that the bank would continue its "aggressive cost reduction strategy" by using technology to improve productivity, reduce complexity and to automate administrative functions.

The bank will be re-structured into 21 specialist businesses, including the creation of wealth management, small business, general banking and global transaction services. John McFarlane, ANZ chief executive officer, said this strategy was part of the bank's overall approach to prepare for the "globalisation of financial services, changing customer expectations and the new economy".

In a launch Web-cast, McFarlane said "Product specialists not generalists will win in the future."

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