Interview: ANZ's COO

Your role encompasses many responsibilities. What exactly does the title ‘Head of Transformation’ involve?

Transformation is about improving what we do and how we’re doing it for the customer. In terms of banking, it’s about listening to our customers and providing them with what they need and want. I look after two key functions for the bank – connecting technology and operations for this customer agenda.

To what extent does technology drive innovation and customer experiences in the banking world?

 Technology is shaping how banks provide services to customers. For example, mobile phones and the internet have changed the way we interact with the world, so successful banks have to be agile organisations that respond quickly to customers’ changing needs. Either banks innovate to succeed, or they get left behind.

You’ve just announced the launch of the goMoney mobile banking application for iPhone. What are the operational risks associated with the mobile platform and how has ANZ addressed them?

ANZ goMoney is just as secure as using ANZ Internet Banking. ANZ goMoney is session based and the application does not store account information on the phone – so personal banking details cannot be accessed if a customer’s phone is lost or stolen. The application is protected by a four digit PIN, utilises high-grade encryption and features lock-out and time-out safeguards. ANZ goMoney is also backed by ANZ’s Internet Banking Guarantee.

How has banking technology evolved to better protect customer data and accounts?

Earlier this year ANZ opened a 4000 metre², purpose-built world-class data center in Auckland. The $78 million investment in ANZ New Zealand’s future supports more than 40% of the country’s financial transactions, and will ensure the security of our customers’ banking, finances and insurance information well into the future. ANZ New Zealand provides some of the best online security available by using physical, electronic and procedural safeguards to ensure customer's personal information, passwords and login details are immediately and permanently encrypted as soon as they are entered online.

With ways to bank broadening to incorporate online and mobile platforms, how is ANZ educating customers about the evolution of new security threats?

ANZ and The National Bank take banking security very seriously and it is a priority to provide customers with safe and secure banking. Both websites have security information centres with information for customers on different types of fraud and how to stay safe.

 Where are we at with the development of contactless payment technology? What’s the timeframe to mainstream roll-out?

We have successfully trialled contactless technology and already have contactless chip cards that are in market today and we would expect to see merchants take advantage of this in the near future, especially with events such as the RWC around the corner.

You get the opportunity to jump into John Key’s shoes for the day. What’s top of your agenda?

Having just returned from working in Asia, the New Zealand government’s aim to have an export-led recovery, strongly targeting Asia makes sense. The Asian economy is delivering a lot of our economic growth, as we’re seeing already, and this fits very well with ANZ’s super regional strategy of leveraging our strong presence in Australia and New Zealand to widen our presence in Asia. We believe the opportunities in Asia for NZ companies are immense – either as a source of capital to fund growth or as an export destination in its own right.

If Action Media was feeling generous and wrote you a blank cheque to spend on technology, what would be top of your wishlist?

This is a tricky question because money is only one of the restrictions to getting things done. A priority for us is to offer our staff smarter and simpler technology tools and processes to help them do their jobs more effectively. We’re always working to give our teams a better technology experience for our customers’ benefit.

Look into your crystal ball. What do you see on the horizon as the hottest emerging technology trends?

By 2011, the number of mobile phone subscribers using phones for mobile banking transactions is predicted to exceed 150 million globally.

Faster network speeds, affordable data and smart hardware will, we believe, increase usage even further. ANZ New Zealand was the first of the big banks in New Zealand to launch mobile banking, which means our customers can bank anywhere, anytime. We’re listening to customers to find out how they want to use mobile banking solutions in the future and have a number of projects underway.

How does New Zealand’s technology fare on the global stage? Are we leading, keeping up or lagging behind?

I think New Zealand is keeping pace – Kiwis make the most of the technology on offer and use it in all sorts of ways. A good example is the way Kiwis use EFTPOS. We have embraced this technology to the point where most people do not have cash in their wallet and have no issue swiping their card for a takeaway coffee. While other countries are just considering the demise of cheques, New Zealand is seeing reduced volumes of cheques and cash.

Being part of a large global organisation means we can use our international experience and knowledge, for example, we are working closely across ANZ to deliver innovative banking technology that meets our customers’ needs tomorrow, not just today.