ANZ’s Institutional business – which works with some of the world’s largest and most sophisticated organisations – is combining these advancements in ANZ’s cloud ecosystem alongside boosting staff capability to deliver meaningful insights and outcomes for customers.
"Without cloud it would be impossible to draw together such disparate data sets to then generate these insights.” – Tim Moloney, Head of Financial Institutions Sales Australia, ANZ Institutional.
Combining for insight
Among recent cloud developments is Signals; a tool for ANZ’s frontline bankers to send near real-time business intelligence to customers.
“Demand for Signals has grown rapidly and it’s generating an expanding list of actionable insights,” said Tim Moloney, Head of Financial Institutions Sales Australia.
“It notifies our bankers when existing customer deals are about to expire – enabling ANZ to proactively engage customers ahead of time with customised alternatives. We also use it to notify bankers when liquidity becomes available in some of our less liquid markets, inviting them to contact customers who may be keen to act.”
More recently, Signals has incorporated generative AI to scan tens of thousands of news articles a day, summarising the relevant customer news to ensure ANZ is better informed and better able to help customers manage their market risk.
“When you consider Signals has helped us point customers to highly customised, relevant market opportunities as well as help them gain better insight into often illiquid markets, you begin to see the value of the insights and the opportunities we’re creating,” Moloney said.
“Without cloud it would be impossible to draw together such disparate data sets to then generate these insights.”
ANZ Institutional has used its long-standing partnerships to expand the reach of Signals and help staff and customers “navigate the complexity of markets.”
When a customer leaves, or even changes their behaviour, there is normally a reason. Larger organisations, with more customers are keen to understand and, if needed, correct their course.
“It’s difficult to understand individual customers’ decisions – especially when they change their buying behaviour. Customer surveys usually only tell part of the story. That’s where the machine learning comes in,” said Louise Clayton, Head of Data Science, Wholesale Digital.
“We can identify patterns of aggregated behaviours to add to the picture. Which means our Institutional and Corporate clients can better understand – based on (de-identified) demographics – which of their customer segments are most at risk of churn.”
“Through the use of cloud we’ve been able to deploy changes and new models across a range of customers as well as tailoring solutions to meet specific client needs,” Clayton said.
Mobile through cloud
Transactive Global is the core banking system at the heart of ANZ’s Institutional Bank. It performs 5,000 transactions per minute during peak traffic for thousands of companies across more than 30 geographies.
It processes 2 million transactions each day and the mobile channel plays an essential part of this activity – allowing executives and treasurers to stay connected and transact while traveling.
“Our customers expect to be able to confirm major transactions, understand potential impacts of currency shifts and do payment approvals, foreign exchange rate booking and account statements in real-time – no matter where they are,” said Dean Drummond, Head of Omni Channel, Wholesale Digital.
“Cloud solutions can get complicated because there are different regulatory requirements in different geographies – but there is always a solution. The trick to getting Transactive Global to customers’ mobiles is the use of a ‘hybrid’ cloud,” Drummond said.
“We’ve reused existing banking platforms and controls that had previously achieved the required levels of compliance.”
Welcome to the ecosystem
Customers and staff need to consider the cloud and it’s uses as an entire ecosystem, according to Moloney.
“It provides access to cutting edge tools, drives scalable, cost-effective innovation, underpins API enabled automation and generates improved customer propositions,” said Moloney.
Creating opportunities, innovating and delivering meaningful outcomes highlights how effectively people are using the interconnectivity and scalability of cloud, along with the opportunities this brings to change the way we work.
Many teams are already unlocking this value through better understanding the technology and pairing this with the right platform foundations and quality data. This foundational combination can both be a catalyst and enabler to broader business transformation
Sally Lau is Cloud Capability Lead in Technology at ANZ