Brooke Corte of 2GB recently interviewed Maile Carnegie, head of ANZ's Retail Bank, to discuss the bank's latest initiative, ANZ Plus. The conversation centered on how this digital overhaul aims to address past shortcomings and improve customer experience.
Corte opened the discussion by highlighting the challenges faced by ANZ in the mortgage sector. "ANZ was caught napping last year," she noted, referencing the bank's loss of market share in residential mortgages due to slow processing times. Carnegie acknowledged these issues and emphasized that improving the mortgage business is her top priority. "We have to get this mortgage business back on its feet," she stated.
Carnegie explained that ANZ Plus involves a comprehensive rebuild of the bank's retail platform, enhancing systems and processes. The first product launched under this initiative is a new savings and transaction account designed to help customers improve their financial wellbeing. She said, "It's really being created to help our customers fundamentally improve their financial wellbeing."
Addressing concerns about processing speed, Carnegie revealed improvements in loan approval times: "For our simple home loans, we are about three days." However, she acknowledged that more work is needed for complex loans.
The interview also touched on cryptocurrency offerings. While some competitors have ventured into crypto services, Carnegie indicated it is not currently a focus for ANZ. She explained that their priority lies in building features that enhance financial literacy and wellbeing for customers.
In closing, Corte thanked Carnegie for her transparency during the discussion.