ANZ helps customers digitise

ANZ Institutional has again succeeded in its push to help customers embrace the digital economy, recording a rise in several key digital metrics in the first half of bank-year 2024.

The bank’s first-half financial result showed a 7 per cent rise in total payments on digital platforms across the six-month period, year on year.

Digital self-service usage at the bank rose 100 per cent compared to the second half of 2023. Around 20 per cent of self-serve requests were processed in real time, saving customers a total of 100 hours in productivity a month.

New Payments Platform agency payments – made on the network by ANZ on behalf of other financial institutions – increased 20 per cent.

ANZ Group Executive, Institutional, Mark Whelan said the bank’s deliberate investment in its payments platforms was paying off.

“We remain focussed on customers, disciplined strategic execution and have increased our focus on revenue growth, cost discipline and risk management,” he said.

{video}

CEO Shayne Elliott said the bank’s platforms business was now being used by other ANZ divisions and customers to drive scale and grow revenue.

“The other driver of sustainable success is the volume of payments processed via customer systems directly integrated into ours," he said. “Once integrated, these channels are difficult to replicate, and these volumes grew strongly.”

In the six months to end of March, ANZ Institutional recorded a net profit after tax of $A1.52 billion, up 12 per cent on the prior half. As a broader group, ANZ posted a statutory profit after tax for the half of $A3.407 billion.

In February ANZ Institutional was named number one for overall relationship quality in Asia by the 2023 Coalition Greenwich Asian Large Corporate Banking study. The bank has taken out the award every year since 2017.

In the same month, ANZ was named IFR Asia’s ESG House of the Year. In December, ANZ Institutional was named Australian sustainability debt house of the year for the fifth-consecutive time by KangaNews.