ANZ has been quizzed over the short-term execution risks of its new technology platform ANZ Plus, which is costing $400 million a year – just over $1 million a day – to develop and operate.
By September next year, every new ANZ customer will be accessing the bank through the new platform, the Melbourne-based lender said, allowing it to be more nimble in offering savings accounts, home loans and credit cards under a new chief executive.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
