New ANZ boss flags major digital shift for 7 million banking customers: 'This will change'
Millions of ANZ customers will soon be migrated onto ANZ Plus, the bank's new digital platform. ANZ's new CEO Nuno Matos started in the top job this week and flagged plans to accelerate the move, which will be the future destination for all retail customers.
ANZ Plus launched in 2022 and since then the bank has been building out features and products for more than one million customers on the platform. That includes announcing it will roll out fully password-less web banking from mid-2025.
Matos told the ANZ's 42,000 staff this week he wanted to accelerate the move over to Plus and acknowledged criticism the bank wasn't moving fast enough.
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'I would like to see it in front of every customer, tomorrow,' he said.
In March, the major bank said every new customer would join the bank through its Plus platform by September next year.
It then plans to run its entire retail bank on Plus by 2029, with six million existing ANZ customers and 1.2 million Suncorp bank customers, from last year's acquisition, to be moved across.
'There is criticism that we haven't delivered fast enough and that accountabilities are unclear,' Matos said.
'This will change.'
Other 'immediate priorities' flagged by Matos, who took over from Shayne Elliott this week, included developing a 'high-performance, winning culture, with no shortcuts from a values and behaviours perspective'.
The ex-HSBC wealth and personal banking boss also wants to integrate the Suncorp Bank acquisition quickly, and step up ANZ's risk management and approach.
Matos will be paid a base salary of $2.5 million per annum for the new job.
The Portuguese banker will also be eligible for a $2.5 million short-term bonus and a $3.4 million long-term bonus in his first full year at ANZ.
Millions of existing ANZ customers will be migrated over to Plus over the coming years.
But there is no clear timeline in place yet for who will be moved and when, or the time it will take to complete.
Christine Linden, general manager in charge of migration, previously said customers would retain existing BSB and account numbers, credit card numbers, direct debits and everything else connected to their existing accounts.
She said the experience would be similar to getting an app upgrade.
ANZ Plus offers customers smart tools and features to help them save, including roundups, predictions for upcoming bills
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Contact this reporter at jkaplan@ Read the original article on Business Insider
