Latest news with #ANZPlus
Yahoo
13-05-2025
- Business
- Yahoo
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. RELATED ANZ scraps passwords for 1 million customers in 'revolutionary' online banking change Photo of huge lines expose $51 billion Gen Z trend sweeping Australia: 'Reaping the reward' $6 million cost Coles and Woolworths pay that Aldi refuses to cave on '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
Finextra
07-05-2025
- Business
- Finextra
ANZ scraps passwords for digital banking log-in
ANZ is scrapping password access to its digital banking arm ANZ Plus, replacing key-based log-ins with two-factor authentication. 0 Rather than typing in a password, customers will instead be able to access their ANZ Plus Web Banking through two authentication methods: either by using a passkey, which could be their fingerprint, face or mobile device PIN, or by entering their mobile number and approving a log-in request sent to their secure ANZ Plus app. ANZ Group Executive Australia Retail, Maile Carnegie says: 'The introduction of Password-less Web Banking will revolutionise the way customers access their bank account. Not only will it be easier than ever to log into your account, we're helping our customers bank with confidence knowing their accounts are secure. 'By introducing this change, we're helping prevent customer log in details from the risk of data breaches or phishing attacks - providing an extra layer of protection and one less thing for customers to worry about when it comes to banking security.'
Yahoo
05-05-2025
- Business
- Yahoo
ANZ to support password-free web banking from mid-2025
Australia and New Zealand Banking Group (ANZ) has unveiled plans to launch password-less web banking for its digital platform, ANZ Plus, making it the first bank in Australia to offer this feature. The new service is set to be available in mid-2025, allowing customers to access their accounts without the need for traditional passwords. Instead, users will authenticate their identity through two methods, including a passkey, which may include biometric options such as fingerprints or facial recognition, or by entering their mobile number and approving a login request via the ANZ Plus app. To further enhance security, ANZ Plus incorporates advanced biometric verification during the onboarding process, requiring customers to provide a selfie and an ID document. This process ensures that only the legitimate account holder can access their account and facilitates secure identity verification when resetting access PINs or increasing payment limits. With the introduction of password-less web banking, ANZ aims to mitigate risks associated with data breaches, password leaks, and phishing attacks. ANZ Group's Australia retail executive Maile Carnegie said: 'The introduction of Password-less Web Banking will revolutionise the way customers access their bank account. 'Not only will it be easier than ever to log into your account, we're helping our customers bank with confidence knowing their accounts are secure.' The bank has invested in various security features to combat fraud and scams. Among these is the ANZ CallSafe feature, which enables secure verification during calls to ANZ Plus. Since its introduction in November 2024, CallSafe has facilitated more than 20,000 secure authentications. Additionally, ANZ plans to introduce the Digital Padlock feature in mid-2025, allowing customers to instantly restrict access to their accounts if they suspect fraudulent activity. The bank has also established a dedicated team, ANZ First Responders, to assist customers who may have been targeted by cybercriminals. This team has managed around 140,000 calls in the past year, resolving approximately 93% of inquiries on the first contact. ANZ has developed the Scam Safe suite, which includes various security measures to protect customers from different types of scams. Customers who maintain the default settings of Scam Safe are reported to be 34 times less likely to fall victim to scams. The Crypto Protect feature alone has intercepted around A$5.5m ($3.54m) in fraudulent investment payments since its launch in April 2024. In November 2024, five Australian banks teamed up with BioCatch to launch BioCatch Trust Australia, am inter-bank fraud and scams intelligence-sharing network utilising behaviour and device data. Founding partners include ANZ, Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), Suncorp Bank (Norfina Limited), and Westpac. "ANZ to support password-free web banking from mid-2025" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
7NEWS
01-05-2025
- Business
- 7NEWS
ANZ to scrap internet banking passwords for one million ANZ Plus customers in Australia-first security move
One million Australians will soon be internet banking without a password. ANZ Bank is scrapping the security feature for ANZ Plus customers as it rolls out internet banking to them within months and replacing password protection with two other methods, the bank revealed on Thursday. ANZ Plus is already a totally digital banking service launched in 2022 — its customers don't have access ANZ bank branches and are also currently unable to access internet banking. Internet banking for ANZ Plus customers will be rolled out in 'mid-2025', and that is what is set to be a password-free experience. The bank said it is the 'first password-less web banking feature in Australia'. Instead of a password, customers will be able to log into their accounts using a passkey, which could be their fingerprint, face or mobile device PIN. Or, customers will be able to enter their mobile number and approve a login request sent to their ANZ Plus app. 'By introducing this change, we're helping prevent customer login details from the risk of data breaches or phishing attacks,' the bank said. There are already about 7000 stolen ANZ customer credentials on the dark web. The Australian Banking Association told the issue — which also affected thousands of customers from Australia's other major banks — was not a breach of banking systems but a result of malware targeting individual users' phones and laptops. Several other security technologies are available for ANZ Plus customers including a feature launched in November which allows service teams accepting customer calls to verify that the person they are speaking to is who they expect without the need to share sensitive information. In the coming months, ANZ will also soon roll out a 'Digital Padlock' feature for all customers, not just ANZ Plus customers, which will allow customers to instantly lock down access to their accounts if they suspect they are being targeted by cybercriminals.
News.com.au
01-05-2025
- Business
- News.com.au
‘Preventing phishing attacks': Major bank's plan to slow down cybercriminals
ANZ has announced plans to launch a passwordless entry into its internet banking, claiming to help protect Aussies from cyber attacks. In an Australian first, ANZ said passwordless web banking would help prevent customers from malware attacks, including infostealer scams, as well as reduce the risks from data stolen in data breaches or impacted in phishing attacks. ANZ Group executive Australia retail Maile Carnegie said by launching passwordless banking ANZ would help customers access its services effortlessly while fortifying security, identity and data controls. 'By introducing this change, we're helping prevent customer log-in details from the risk of data breaches or phishing attacks – providing an extra layer of protection and one less thing for customers to worry about when it comes to banking security,' Ms Carnegie said. Instead of using a password, customers can log in via passkeys of their fingerprint, face or device pin or through their phone number and approving a log-in request sent to their ANZ Plus internet banking The passwordless service will be launched on ANZ Plus only and has not been applied to the ANZ app. NAB's subsidy Ubank previously announced a similar product through its app. It allows customers to create a passkey, meaning customers can log into the ubank app in the same way as they would to unlock their mobile device, using fingerprint or facial recognition, a PIN, or swipe pattern. Last month, ANZ unveiled Digital Padlock technology that it will roll out in the ANZ app, ANZ Plus and internet services. Once activated, it will block debit and credit cards as well as disable digital access and stop unauthorised activity on accounts while still allowing direct debits and loan repayments to go through. The ANZ move comes after the big four banks were named as part of an infostealer attack. According to an investigation by cyber intelligence researcher Dvuln, banking details belonging to at least 14,000 CommBank customers, 7000 ANZ customers, 5000 NAB customers and 4000 Westpac customers were being traded on the dark web. Dvuln co-founder Jamieson O'Reilly told NewsWire there was a thriving underground where criminals were making a good living through infostealer scams. 'Instead of the traditional ransomware attack where they lock your computer and ask for money, criminals have found that it's much more lucrative to not be detected, not make any noise and just leave the malware on your device as long as possible so that every time you change your information, it is sent back to the criminal gangs that control it. 'It means they have this continuous stream of information that they can sell to other cybercriminals. 'So rather than one payment with a ransom, they're getting year-on-year payments in some cases where they've got a device infected for a long time.' Mr O'Reilly said while the research focused on the banks, there was a much larger problem for Aussie households. 'We chose to highlight the banking risk because that would get the everyday Australian's deserved attention, but there was a lot more information,' he said. With the launch, ANZ is reminding Aussies to remain vigilant online. 'Don't give personal information or money to anyone if unsure.' ANZ said. 'Never click a link in a message, and only contact businesses or governments using contact information available through their official website or secure apps. If you're unsure, hang up or delete.'
