ANZ head of retail banking Maile Carnegie says she is happy the bank resisted the urge to dive into buy now pay, later and cryptocurrencies as rising bad debts and investor anxiety has dampened enthusiasm for both.

The former Google executive said the bank had debated the merits of both products as early as 2017 but said she was “happy we didn’t go head long” into these areas that were billed as the future of payments and finance.