28 Oct 2021
Automation continues to be the focus of intense interest in the global banking industry. And that’s no different for us at ANZ.
While COVID-19 has severely disrupted the financial services industry, it has presented opportunities too in terms of building efficiency for our customers and people.
"Our digital and automation agenda has helped improve our efficiency and productivity by about 22 per cent over the last three years.”
In ANZ’s Institutional bank we have been working on automation for some years now but it is an ongoing program which will continue to have a great impact on our corporate customers by simplifying their banking experience as well increasing our internal capacity.
The Institutional automation agenda is built on having the right programs and people in place and it is critical in underpinning the delivery of our business strategies.
What is working for Institutional is a culture of continuous improvement and innovation.
There is a strong connection between various automation projects across the value chain, as opposed to discrete pieces of work, underpinned by an ongoing partnership with our technology colleagues. As a division, we are working on a number of automation programs to meet our customers’ needs.
Combined with other divisional initiatives, our digital and automation agenda has helped improve our efficiency and productivity by about 22 per cent over the last three years.
The progress Institutional has made is a recognition that apart from large projects, thoughtful investments and small improvements really do make a difference. Embedding a culture of ongoing progress, building a digital mindset and building the right capabilities to execute was recently recognised with industry accolades in the Peter Lee and Greenwich surveys.
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While there are many, I’ll outline some customer and employee experiences which are much better today than where we might have been just over a year ago:
Challenges and opportunities
All that aside, the testament to true customer experience is the adoption of digital by customers. Shifting consumer behavior to digital adoption is no small feat. It requires a good understanding of customers’ needs, customer-centric banking processes and tailored tools to support them and the people serving them.
The Institutional ambition over the next few years will be to look at building on these channels, data and platforms. The focus for Institutional remains firmly on straight-through processing, which has underpinned our thinking for some years, and adopting better, new technologies.
Our automation agenda demands careful prioritisation, measured execution and continuous improvement – to make a difference to customers and employees.
Sreeram Iyer is Chief Operating Officer for ANZ Institutional
28 Oct 2021
27 May 2021