Our Purpose is to shape a world where people and communities thrive. It drives everything we do at ANZ, infuses our strategy and is fundamental to shareholder returns.
We bring our Purpose to life through our Strategy: to improve the financial wellbeing and sustainability of customers by providing connected, relevant and efficient services, tools and insights, directly and in partnership with others.
In particular, we want to help customers:
We will achieve our strategy through:
Propositions: Easy to use services that improve the financial wellbeing and sustainability of customers
Platforms: More agile and more resilient banking infrastructure platforms provided to ANZ and third parties
Partnerships: Integrated, data-enabled, Home Owner and Business Owner ecosystems (that bring our propositions to life)
People: A diverse team, who listen, learn and adapt to deliver outcomes that address financial and sustainability challenges
Building the financial wellbeing and sustainability of our customers creates a positive cycle of benefits. It directly benefits customers and also grows shareholder returns; it leads to a strong and positive reputation; it ultimately means it costs less to acquire customers; and it grows loyalty, which in turn generates better returns – delivering more capital so we can invest in building a better bank and continue to improve the lives of our customers.
The Bank we're building
We know, from studying organisations globally, that companies with a clear strategy linked to their purpose outperform, over the long term, in terms of returns to shareholders, contribution to society and value to their customers – and the engagement of their staff.
"Over the last five years, we have made great strides, significantly simplifying the bank well ahead of our peers, enduring a once in a century global pandemic and laid the foundations for growth.”
In fact, ANZ’s motto Tenax Propositi (Tenacity of Purpose), adopted in 1951 when the modern ANZ was formed, holds this idea at its core.
By building the financial wellbeing and sustainability of our customers we will have a better reputation, a more engaged team, acquire customers at a lower cost, grow loyalty, generate better financial outcomes – and deliver more capital to reinvest in the business and continue to improve customers’ lives.
It’s a virtuous cycle, captured in this value wheel chart, and the essential philosophy of the Bank We’re Building. The growth in value of each of our businesses, in Australia, New Zealand or Institutional, can be understood in terms of this cycle.
To succeed we must employ people committed to our purpose who listen, learn and adapt. We need to equip them with the best tools and insights. We need to focus on those few things that really improve the financial wellbeing and sustainability of our customers.
Click here to listen to Shayne Elliott speak about "The Bank we're building". For further details refer to this article on ANZ's bluenotes.