Aussie Big Four bank, Australia and New Zealand Bank is working continuously on modernizing its banking systems. The banking systems transformation in ANZ Bank is going on under its ANZx transformation program and the trial of the system is slated for Q2 of 2021, as per iTNews. ANZx, ANZ’s new banking platform is to be piloted with a bank staff of about 150 in April 2021 before its wider launch.
The bank has been working on its ambitious transformation program since November 2019 and the bank hoped the program would deliver a manifold improvement in terms of digital capabilities and speed.
About ANZx – ANZ’s banking platform
The technological aspect of ANZx is led by Chis Venter, General Manager for Australian Business Transformation Technology. The Co-lead on the project is ANZ’s Managing Director for Customer Experience & Digital Channels, Peter Dalton. Ventor says that ANZ is effectively building a new banking platform which will be cloud-native and API-first.
Designing and building a next-gen, customer-focused banking platform involves refurbishing and modernizing the existing products and services of the bank. ANZ Bank has chosen robust technology by Salesforce which includes tools from MuleSoft. It will be used to develop new and better banking capabilities.
Technology by Salesforce will be utilized to bring customer data and insights together in one single place. This will improve compliance and service along with handling and addressing complaints of customers in a timely manner. Apart from Salesforce tools, some of the cloud components will be coming from the Enterprise Cloud Portfolio of ANZ, a central capability within the ecosystem of ANZ that’s taking responsibility for cloud services.
More on ANZx’s transformation initiative
At Dreamforce 2019 (a Salesforce conference) Chris Venter said the ‘x’ in ANZx refers to the roman number for 10. Their whole view is if they’re going to do it, it has to be 10 times better than what they currently have, said Venter, otherwise there’s not much point in getting started. For Venter, it is all about a platform differentiating the bank and their goal is to build a new and better banking platform on cloud-native technology. The Portfolio team is creating the underlying capabilities that they’re leveraging to sit this platform on top of, he added.
Venter added that the intention behind ANZx is to eventually form part of their standard bank technology. For this, they need the new banking platform to be integrated into some of their existing systems in the organisation. It is greenfields but will be coexisting with some existing components of the bank. So the bank is building some new capabilities but they’re integrating into the existing environment.