ANZ Bank Case StudyLEADING THE WAY

With an out-of-support and outdated processing platform that no longer met the needs of the business and evolving customer demands, ANZ Bank made a critical decision to update its core banking infrastructure.

An upgraded Systematics platform positions the bank to offer a truly omnichannel digital customer experience.

Challenge

Founded in 1835, ANZ is one of the leading banks in Australia and the largest financial services group in New Zealand. With a strong position throughout the Asia Pacific region and a growing presence in more than 34 markets, ANZ is now a super-regional bank employing more than 50,000 people.

For over two decades, ANZ New Zealand had relied on Systematics, an end-to-end core banking solution provided by FIS™. Although reliable, the version of the Systematics used by ANZ came from before the internet era and had become expensive to support. It also impeded digital innovation, incapable of supporting a fully interactive digital customer experience. There was a risk that, without a technology renewal, ANZ could lose its competitive edge.

To maintain its market-leading position, ANZ needed to upgrade its core banking system to enable it to offer customers a fully digital banking experience across all channels. The bank also needed to align its technology with its business strategy to enable new services to be launched easily, quickly and cost-effectively.

Systematics provides the foundation for digital transformation

Solution

After careful consideration, ANZ decided to upgrade its Systematics platform: In practical terms, ANZ needed to transform from a “days and hours” bank to a “minutes and seconds” bank.

As part of its transformation, ANZ took the opportunity to add many new components that enriched functionality and improved the user experience. These included multiple tier interest rates, overdraft scoring and an online maintenance history function. Of fundamental importance was the ability to make payments and transfers during the day, rather than overnight. As well as technology change, this required a massive change management program.

All business processes had to be reviewed, and many were re-engineered to support 24/7 digital services. The entire project was meticulously planned so the upgrade could be implemented with minimal service interruption.

Although the project lasted over two years, the transition to the new platform was made in two tranches, each occurring over a single weekend. Over 2 billion current and historical transactions were successfully converted with minimal impact to customers.

A critical determinant of project success was the expertise of the people involved from both ANZ and FIS. As well as facilitating knowledge transfer, the collaborative approach built confidence during testing and prepared everyone for live running.

Leading the way

About FIS

FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, consulting and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Florida, FIS employs more than 55,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com

Outcome

With its state-of-the art Systematics platform, ANZ has enjoyed a step-change improvement in processing speeds and has become a truly digitally enabled bank. This secures the bank’s leadership position and offers a stable platform for future development. ANZ has also simplified its product range and rationalised back- and front-office business processes.

Overall, the bank has become more streamlined, cost effective and agile, and can respond more quickly to competitive, market and regulatory pressures.

The new Systematics platform also helps to future-proof the bank and provides a flexible and extensible platform to support changing business needs and dynamic environments. With direct access to the core banking system, customers can enjoy a fully interactive digital banking experience. Customer satisfaction levels have improved, as customers can verify transaction details in real time. Bank staff spend less time dealing with customer queries and resolving processing errors.

ANZ and FIS are building on a successful partnership that has endured for over 25 years. The new Systematics platform has provided the bank with many new features, such as automated transactions and real-time alerting, that enhance the customer experience.

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This was the most complex technology transition ever undertaken in

our history. It really has been an outstanding success.

MIKE BULLOCKCHIEF OPERATING OFFICER,

ANZ, NEW ZEALAND

● Over 2 billion transactions converted

● 4.1 million customer accounts converted

● 37,000 code elements upgraded the core platform

● 7,705 Systematics users trained

● 7-day omnichannel banking enabled ● Multicurrency enabled● Multiagency bank enabled