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ANZ Institutional leads shift to digital in FY

ANZ Insights

2023-11-13 00:00

ANZ Institutional has continued to help its customers embrace the digital economy in 2023, recording a rise in several key digital customer metrics in the 2023 bank year.

ANZ’s full-year financial result showed digital self-service usage at the bank rose 300 per cent compared to 2022, highlighting the success of ANZ’s ongoing investment into its payments offerings.

Total payments on ANZ’s digital platforms rose 8 per cent to $A654 million, while New Payments Platform agency payments – made on the network by ANZ on behalf of other financial institutions - rose 27 per cent to 42 million.

The scope of digital activity is estimated to have saved institutional customers more than 850 hours, according to ANZ.

ANZ Group Executive, Institutional, Mark Whelan said the bank had built a strong institutional business that had momentum to accelerate and outperform.

“Our product and coverage teams are working together toward a seamless customer experience by bringing the breadth of our service offering to support customers,” he said.

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CEO Shayne Elliott told ANZ bluenotes all four of ANZ’s businesses had delivered “really good” outcomes.

“It was consistently strong across the board, really showing the benefit of the portfolio of businesses that we have, which is pretty unique and different, particularly to our domestic peers here,” he said.

In the 12 months to end of September, ANZ Institutional recorded an $A2.96 billion cash profit, 53 per cent higher than the previous corresponding period. As a broader group, ANZ posted an audited cash profit of $A7.4 billion, up 14 per cent when compared with the previous year.

In June, ANZ Institutional was recognised for the strength of its customer relationships, after receiving the number-one ranking and best-ever score in Peter Lee’s relationship strength index, as part of the Peter Lee Associates Large Corporate & Institutional Relationship Banking Survey Australia.

That followed news in March the institutional bank had been number one for overall relationship quality in Asia for the sixth-consecutive year by the 2022 Coalition Greenwich Asian Large Corporate Banking study.

Earlier still, ANZ Institutional was recognised as the number-one bond house in Australia for the 13th consecutive year by KangaNews.

anzcomau:article-hub/industry/financial-institutions
ANZ Institutional leads shift to digital in FY
Staff Writer
ANZ Insights
2023-11-13
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