ANZ has announced the re-merger of its digital and retail operations into a single entity, as the bank nears the launch of its customer-facing app, ANZ Plus.
ANZ Plus is a new digital banking service that includes a number of financial management features. It will now be included into the consolidated ANZ Retail business.
Maile Carnegie, group executive digital banking, will take on the role of group executive Australian retail, reporting to ANZ CEO Shayne Elliott.
The bank would also divide its Australian commercial operations into a new division targeted at creating future prospects as part of the restructuring.
Elliott stated in an ANZ Bluesnotes article that “four or five years ago, when we were looking about the future and the changing structure of banking…. that the world looked extremely different.”
“When we identified what customers would want in the future, what competition would demand of us, and what regulators would demand of us, we realised that the infrastructure and the way we were running the business really wasn’t a contemporary way of doing that, and we weren’t going to get to where we needed to be.”
This resulted in the formation of the ANZx team, which was tasked with developing a new banking product.
“ANZ Plus, established under the ANZx initiative, is a vital cornerstone in our digital transformation as we aim to improve the services we deliver to our retail consumers in Australia,” Elliott wrote.
“It is a digital-led retail banking proposition focusing on our customers’ financial well-being.”
