Our approach and performance
Banking on Australia
In October 2012 we introduced Banking on Australia our plan to invest $1.5 billion over five years to transform and reshape the way we do business in Australia. This includes a commitment of $20 million to support the delivery of financial education programs in the community, as well as improved support for customers experiencing financial hardship.
The Banking on Australia program is responding to the changing needs of customers, providing them with easy access to all of ANZ’s expertise and insights and giving customers a faster and simpler way to bank with us, when and where it suits them.
- Equipping our Corporate & Commercial bankers with mobile tablets and introducing tools such as the ANZ Asia Pacific Connect website to bring the whole of ANZ’s super regional capabilities to our customers and increase the productivity of our frontline bankers.
- Supporting our customers to embrace mobile and flexible banking options, including ANZ goMoney, with more than 1 million users and our mobile merchant app ANZ FastPay, used by small business customers for payments on the go.
- Launching our first concept branch and transforming 73 branches with open-plan design and new technologies, enabling employees to focus on meeting more complex customer needs.
- Installing video conferencing facilities in 43 branches to give customers greater access to specialist advice.
- Delivering training in the past year to enable our people to improve the service we provide to customers and build capability around sales, wealth, lending, small business, credit and customer service. For example, we have over 2,800 employees accredited to write home loans and over 1,100 accredited to sell wealth products.
- Rolling out more than 280 Smart ATMs, enabling customers to make secure cash and cheque deposits.
- Pledging $1 billion to support new small business start-ups around Australia,
- Assisting our small business customers to build their businesses by offering access to a range of free business tools, including data and benchmarking as well as connecting to thousands of other small businesses through our small business hub and LinkdIn group.
Products and services that put customers first
We aim to provide convenient and uncomplicated products and services, tailored to the individual needs of our customers. This means striving to put customers first, looking after customers of all backgrounds, being easy to do business with, and providing value for money.
We provide a large and competitive range of products and services to suit individual situations. We offer simple transaction products, including:
- Access Advantage Account, with unlimited ANZ transactions for $5 per month
- Community Banking Package, giving fee-free banking to seniors, full-time students, under-18s, people with disability and benefit recipients.
We have developed responsible and easy-to-understand credit products, including:
- ANZ Simplicity PLUS, a 'no frills' home loan with a lower variable interest rate and no monthly service fee
- ANZ Balance Visa, a credit card that rewards customers for making repayments rather than spending
- Drought Consolidation Loan, offering farmers a chance to consolidate existing farm debts using a long-term tailored loan facility.
We strive to develop innovative products that make managing money easier for our customers in more situations, including:
- ANZ Travel Card, a prepaid Visa card that allows customers to load up to 10 different currencies on the one card and spend with confidence when overseas
- ANZ FastPay, businesses can process credit card sales from their customers on an iPhone or iPad with the ANZ FastPay™ App.
We offer more convenient banking through services including:
- ANZ Money Manager, a free online personal finance tool
- Mobile Phone Banking, goMoneyTM for the Apple iPhone (an Australian first)
- Asia Pacific Connect, access tips and information about doing business across 29 markets and 10 industries.
- Our 50+ Benefits website provides customers with access to a range of online information relevant to their life stage (from looking after grand children to travelling).
Our specialist wealth business helps customers grow, manage and protect their wealth by providing a range of superannuation, investment and insurance solutions that can be purchased directly or through a financial adviser. We make it easier for our customers to find solutions to support their financial and lifestyle goals.
We offer accessible and flexible superannuation and investment products such as
- ANZ Smart Choice Super - an innovative product that helps customers connect with their superannuation and lets them conveniently manage it through ANZ Internet Banking and ANZ goMoney™. Customers can access their superannuation, check their balance and can easily add to their balance when they log on to Internet Banking.
- OneAnswer Frontier Investment Portfolio – a comprehensive and flexible investment solution designed to help customers grow and protect their wealth at every life stage.
We offer flexible insurance products including
- ANZ Income Protection - a simple and easy way for customers to provide for their family if they are unable to work due to illness or injury. Customers can choose a level of cover that suits their circumstances and budget.
- ANZ Life Insurance - offers a range of benefits and features to help customers provide for their families and ensure they are taken care of if they become terminally ill or pass away.
We are advocates for quality financial advice and offer customers access to a wide adviser network across the country.
We offer customers a range of simple, easy to use educational tools including super calculators, investment tips and strategies, help finding lost super and market and economic updates from industry experts.
The small business sector is important in the Australian economy, with 1.93 million small businesses employing 5.1 million people - nearly half of the total workforce in Australia.
This year, we pledged to lend $1 billion to new Small Businesses. We also continued to support ANZ Innovyz Start – a program aimed at fostering innovation and helping individuals to start-up and grow their businesses. The program offers participants the opportunity to work with a number of successful Australian and international mentors.
We continue to assist our customers to develop and build their businesses by offering access to a range of free business tools, online courses, industry benchmarking and industry data via our small business hub.
The Small Business Hub, tips, tools and resources for growing and running small businesses.
Our focus is on improving customer experience and building trust – offering our customers the products and services they need, and making their interactions with us easy, fair and secure.
Results in 2014 include:
- Pledging to lend $2 billion to new small businesses in Australia in 2014, doubling our 2013 commitment.
- Launching GROW by ANZ – a series of innovations across the physical, digital and advice space to help customers build their confidence and knowledge to make more informed financial choices for their future wellbeing.
- Launching ANZ Shield, a free security app for iOS and Android devices. With ANZ Shield, customers have the option to add an extra layer of security to their ANZ Internet Banking.
- Introducing 772 ANZ Smart ATMs since 2013, offering 24-hour access to a greater range of banking services.
- Developing our ANZ FastpayTM merchant application for small business customers to complete credit and debit transactions on Android and iOS.
- Attracting an average of 1 million customers daily to our ANZ goMoneyTM mobile banking application, with transactions exceeding $100 billion since launch.
Our focus is to make products and services simpler for our customers. In 2013, we continued to invest in customer service and innovation, and in leveraging connectivity with our international network.
Results for 2013 include:
- Making a pledge in Australia to lend $1 billion to new Small Businesses. Securing lending for a new small business can be difficult, but in this year ANZ approved 70 percent of completed loan applications from new small businesses and 90 percent of loan applications from established small businesses.
- Continuing to support the ANZ Innovyz Start – a program run in Australia to foster innovation and support individuals to start-up and grow their businesses. The program offers participants the opportunity to work with a number of successful Australian and international mentors. We also provide up to $20,000 in financial support Through the program we’ve already seen 20 start-ups graduating from the first 2 programs.
- Continuing to assist our customers to develop and build their businesses by offering access to a range of free business tools, online courses, industry benchmarking and industry data via our small business hub.
- Making a pledge in New Zealand to make available $500m to lend to NZ start-up businesses.
- Addeding 45 new business managers, including 16 new migrant business managers, to service our customers in New Zealand.
- Supporting the ANZ Flying Start Business Plan Competition for the second year in New Zealand, contributing employees to judge entries and $40,000 in prize money.
- Providing drought relief packages to New Zealand farmers across the country affected by last Summer's dry spell.
Our focus is to make products and services simpler for our customers. In 2012, we continued to invest in customer service and innovation, and in leveraging connectivity with our international network.
Results for 2012 include:
- Transitioning to one brand and one core banking system across ANZ and The National Bank in New Zealand
- Completing more than one million A-Z Reviews helping retail customers and small businesses with their financial goals
- Extending ANZ’s popular mobile banking application, ANZ goMoneyTM to Android devices. Currently the application has more than 780,000 registered users with over 30 million transactions valued at more than $17 billion conducted in 2012
- Establishing a $120 million start-up package to help young farmers in New Zealand
- Committing up to $500 million in new discounted mortgage lending to customers impacted by the Canterbury earthquakes in New Zealand
- Launching the Pacific Money Transfer Card to enable cost-effective remittances for customers.
We continue to deliver products and services aimed at making banking simpler and more convenient and tailored to the diverse needs of our customers.
- Installed over 2,700 audio enabled ATMs in Australia and 600 in New Zealand.
- This year, our award-winning ANZ goMoney™ application for the iPhone was enhanced to support accessibility tools designed for the vision impaired, such as VoiceOver and zooms. Find out more about our work to improve the accessibility of ANZ products and services for our people and customers with disability.
We continue to deliver products and services aimed at making banking simpler and more convenient and tailored to the diverse needs of our customers:
- We have responded to strong feedback for a service that allows customers to manage their money via mobile phones with ANZ goMoney™ - our new Australian mobile banking application.
- We ran a campaign to highlight to new and existing customers the option of switching their everyday bank account to an ANZ Access Visa Debit card, providing customers with the ability to access their money via EFTPOS and ATMs as well as everywhere Visa is accepted, making it easier for customers to spend money online, overseas and over the phone.
- We have made improvements to the way we do business to ensure we continue to provide an inclusive service for customers with disability. This includes:
- installing more than 2,000 audio-enabled ATMs and installing audio-enabling branch ticketing machines
- making nine of our most commonly used product brochures available to customers in Braille, large print and audio format
- improving compliance with WC3 accessibility standards for our intranet and website.
We will continue to identify opportunities to simplify our products and increase convenience for customers. We will also develop and implement products, services and initiatives that support social, economic and financial inclusion.
ANZ has continued our work to deliver products and services aimed at making banking simpler and more convenient and tailored to the diverse needs of our customers:
- Simpler banking for community groups. A customised banking package for non-profit community groups in Australia was launched this year, offering products with waived or discounted fees and no monthly package fee.
- Retirement Banking Specialists have been placed in over 200 branches across Australia to make banking less complicated and more relevant for older customers. These specialists bankers have been trained to discuss retirement plans and the financial strategies that can help older customers achieve their retirement goals.
- Over 50,000 customers have registered for ANZ Money Manager, allowing people to see all their financial information on one secure website, making it easier for them to identify monthly spending patterns, set monthly budgets and schedule loan repayments.
- A 'Moving to Australia' site makes it easier for people in China to establish Australian banking services before relocating, containing Chinese language translations of information on how to open accounts, convert and transfer money and purchase property in Australia.
- The MySpace Recharge card is a prepaid Visa debit card designed to provide young people a simple and convenient way to use their own money and can be topped up at MySpace.
- Electronic statements: Credit card and transaction account customers can now opt to receive their account statements electronically through internet banking. Almost 600,000 accounts are registered for electronic statements, generating a saving to ANZ of around A$843,000 and some 42 tonnes of paper.
We will continue to identify opportunities to simplify our products and increase convenience.
ANZ has introduced a host of new products and services in the past year aimed at making banking simpler and more convenient and to promote increased savings and better money management. These include:
- ANZ Access Limited account with no exception fees
- ANZ Simplicity PLUS 'no-frills' home loan, part of a broader effort to simplify our range of mortgage products, creating clearer differences between each
- ANZ MoneyManager online personal finance aggregator
- SmartyPig, the online equivalent of the ever popular piggy bank, which allows customers to track their progress against savings goals via social networking sites such as Facebook and MySpace or the SmartyPig website
- First Home Saver Account giving customers access to the Federal Government initiative which provides tax benefits and matched Government contributions to people saving for their first home
tailoring information, products and services to support a diverse range of ANZ customers, including women, migrant customers and customers with disability.
- We launched Be Money Confident, Australia's first website dedicated to providing useful financial and lifestyle information for women. ANZ WorldWise makes banking easier for Chinese students moving to Australia to study by allowing families to set up an Australian bank account and transfer funds from their Chinese account into their child's Australian account when needed.
We will continue to identify opportunities to simplify our products and increase convenience. Our 2009 Corporate Responsibility goals include a commitment to introduce new online products to assist customers to more effectively manage their money.
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