In June 2019 ANZ, Australia’s fourth-largest bank by market value, quietly launched a major transformation program dubbed internally ANZx. The program, expected to take between two and five years to complete and cost hundreds of millions of dollars, will reimagine the retail banking platform.

When complete, the platform is expected to modernise ANZ, enabling the Melbourne-based lender to help the bank’s 8 million retail and commercial customers improve their financial well-being, offer them products faster, whether they be the bank’s or other providers’ products and reduce operating costs.