“As long as whatever you're doing actually flows through to a benefit for the customer, or solves a genuine problem for the customer or solves a problem for the industry, then your investment makes sense,” Lim said.
"Whether it’s real-time payments or innovation, [tech] has been a step change and it’s really exciting to see.”
Speaking on podcast ahead of the annual Sibos conference in October, Lim said in a world where technology advancement is rapidly reshaping business, it was important not to get distracted by gadgets which might sound “cool” but ultimately provide little customer value.
“That's the philosophy that we have at ANZ, when we think about investing, innovating and looking for scalable solutions that are going to actually solve customer real-world problems,” he said.
For companies in the financial services sector, investing in the Sibos annual financial services conference - to interact closely with customers, check the pulse of the broader industry and see how industry best-practice is developing so they can return and apply that directly to solutions - is time and effort well spent, Lim said.
The SIBOS conversation also featured Jenny Hutchings, Head of Banks Transaction Banking Financial Institutions at ANZ and Bryan Stagg, Executive Director and Australia Head of Banks, Financial Institutions Group at ANZ. You can listen to an edited version of the conversation - the first in a series in the lead up to the event in October - below.