Australia's banking institutions have seen several changes and shifts over the years.

For seven million Australians who bank with ANZ, a significant change on the horizon could affect the way they manage their money soon.

ANZ's newly-minted CEO, Nuno Matos, stepped into the bank's top position earlier this week.

His first order of business? A sweeping digital transformation that could affect millions of customers nationwide.

Matos has ramped up customer migration from ANZ to the bank's new digital platform, ANZ Plus.

Nuno Matos shared a message for customers on the ANZ official website. Image Credit: ANZ

Launched in 2022, ANZ Plus is a digital banking platform designed to offer more innovative, more intuitive banking for Australians.

Over one million customers have already signed up for the platform and have been enjoying its features.

ANZ Plus has automatic savings roundups, bill prediction tools, and a streamlined experience for customers.

The platform is also set to introduce fully password-less web banking with the goal of making online banking safer and more straightforward.

Matos, who previously led HSBC's wealth and personal banking division, stated that accelerating the move to ANZ Plus has been his top priority.

As he addressed ANZ's 42,000-strong staff, he acknowledged criticism that the bank's digital transformation has been slow.

'I would like to see it in front of every customer tomorrow,' Matos said, signalling urgency.

'There is criticism that we haven't delivered fast enough and that accountabilities are unclear. This will change.'

Last March, ANZ announced that every new customer should join via the ANZ Plus platform by September this year.

By 2029, six million existing ANZ customers plus 1.2 million Suncorp Bank customers should be using ANZ Plus.

Christine Linden, ANZ's general manager overseeing the migration, reassured customers that the transition should be smooth.

She likened the experience to getting an upgrade: familiar, but with new and improved features.

Customers' BSB and account numbers, credit card details, direct debits, and other account connections will remain unchanged.

ANZ also promised that customer support would remain a priority throughout the transition.

While ANZ has ambitious targets to meet, there's no detailed timeline yet for when each customer will be moved over.

The process may happen in stages over the next few years, and ANZ has committed to keeping customers informed every step of the way.

For ANZ customers who have concerns about the upcoming change, their customer support hotline is open at 13 13 14.

Customers may also visit a nearby ANZ branch for a more personal approach.

Key Takeaways

• ANZ's new CEO, Nuno Matos, revealed plans to accelerate the migration of all retail customers onto ANZ Plus.
• ANZ Plus, launched in 2022, would eventually become the platform for all six million existing ANZ customers and 1.2 million Suncorp Bank customers.
• The migration should be complete by 2029, with new customers joining via Plus starting September this year.
• Customers were assured that their account details—BSB, account numbers, credit card information and direct debits—would remain unaffected.

Have you already tried ANZ Plus? If so, what was the experience like? What are your thoughts about ANZ's move to digital banking? Share your thoughts about this looming change with us in the comments section below.

 

[Dawn Fryett 4865]

I am sorry but as I am not very computer literate I do not like this idea, whats wrong with old fashioned banking especially for the elderly

 

[Bezza@71]

I am not happy about this move. ANZ have been on our back for years to use the ANZ app but I refuse because I was scammed when using an app (not ANZ) on my phone a few years ago. If the young ones want to get involved with this digital age of banking they can go for it but leave us in the older generation alone!!
Another thing with all this AI going on these days, password-less access makes it even more daunting. How does the bank know it is the “real” you and not some AI that looks like you?

 

[Zemo]

"Password-less" banking? Do we get a barcode tattooed on our forehead so we can use the bank's services?

 

[Sherril54]

The banks are dragging us oldies into the new world of banking. So what if we do not want to or cannot go with them. Thanks Nuno Matos, he looks like a swarve and convincing personality, but once again the Bank ANZ and the other`s are leaving a lot of people behind (like us, the one`s who`s loyalty was responsible for helping achieve their current wealth and status).

 

[Gezzabel]

ANZ, have a bad reputation! My husband had to sort out my Mothers estate. Every issue related to the ANZ, was a
nightmare. Took nearly a year to finalise her estate. I would never do banking with them, ever!

 

[gnicholson]

We sold our house in February and new place not finished till the end of May. We have been renting for 3 months and opened up 2 new ANZ PLUS accounts to put our money in during that time to earn higher interest to pay our rent. Opening up in the branch was easy enough. However, the downsides have been an ongoing issue for us. The person who opened the account also set up a direct debit for me for the $100 to be transferred in each month as per their rules. 1st April came and no bonus interest. They had put the direct debit into the transaction account not the save account. I did the transfer manually for my partner's account and all was well. I went straight to the bank they owned their mistake but it took almost 3 weeks to fix and get the back interest as well as interest on the interest missed.
Things to note which I don't like.

If we take out the money before the end of the month we lose interest for the whole month.

We can only transfer the money out at $250000 per day so it is going to take 4 days for each of us to transfer the money out.

They cannot guarantee that the money when taken out will get to the solicitors on the same day for the settlement. They can't guarantee it will be sent by OSKO until after it is gone.

Our settlement was supposed to be the 29th May. it will now be at least 3rd June before we can move in.
it will cost us more rent and more storage fees at the removalist.

What have I found out during this process?

The ANZ PLUS online coaches don't know about ordinary banking and the way to transfer the money quickly. Absolutely no help and we had probably 20 exchanges on their chat page. I would have loved to have talked to someone on the phone and sort it out. Every chat was a different person and no-one seemed to have read the previous chats so had to keep repeating myself.

The branch people refer you to the coaches for anything else so they don't know about ANZ PLUS either.
Where is the person who knows about both?

I am still trying to find out how I can transfer the money to the solicitor on the same day.

I am trying to google about that. Have asked about telegraphic transfer and this

• ANZ uses RTGS/SCP:

For high-value, same-day transfers, ANZ uses its Real-Time Gross Settlement (RTGS) or Secure Clearing Payment (SCP) system.

No-one seems to know about that either. With all the house buying and selling you would think that they would have a few specialists in that area who I could consult.

We are in our 70's and after many years (40+) of banking with the ANZ we are seriously thinking about changing after all this is over.

 

[Greg350]

"Password-less" banking? Do we get a barcode tattooed on our forehead so we can use the bank's services?

You have eyes, fingerprints, both unique to you, better security then anything else.

 

[peterb6a]

I am sorry but as I am not very computer literate I do not like this idea, whats wrong with old fashioned banking especially for the elderly

I agree with you Dawn.

 

[KimJay]

After being with ANZ for over 30 years who have been increasing fees to more of their accounts and have closed our 3 local branches (all within a 15 kilometre radius) we are moving our accounts to a more accessible and customer friendly bank

 

[glennkidd]

Comming soon...
A chip implanted at birth.
That should take care of things.

(just a coment from this paranoid doofus..lol)

 

[Liz]

And I suppose this will come to Suncorp as well whom ANZ have taken over. I left ANZ years ago because of their lack of customer service and inability to do things right. Let us oldies do banking the way we know how. If the young ones want this, then target them. When we all die out, they can do what they like.

 

[Southmelbswans]

You have eyes, fingerprints, both unique to you, better security then anything else.

I do not use a phone for banking only my desktop so unable use fingerprints or eyes!!!

 

[BruceC]

Simple!
Instead of complaining swap banks and let them know why you are leaving.
No one is forcing you to stay with ANZ..

 

[Zemo]

Simple!
Instead of complaining swap banks and let them know why you are leaving.
No one is forcing you to stay with ANZ..

In the words of the song, "Who ya gonna call?" Overall, are the standards much better ?

 

[ToniaKisliakov]

Why say this could affect your accounts in a BIG way which can frighten some seniors/pensioners! Is it SDC new form of communication with the elderly?

 

[Zemo]

You have eyes, fingerprints, both unique to you, better security then anything else.

I sure do. I also have something called choice, which I would use if I happened to be faced with that particular situation.

 

[GreyWolf_Rod]

ANZ, have a bad reputation! My husband had to sort out my Mothers estate. Every issue related to the ANZ, was a
nightmare. Took nearly a year to finalise her estate. I would never do banking with them, ever!

I had the exact same experience... and just last month, over 12months since my wifes passing they sent "her" the closing balance of our mortgage account, which was paid out over 12months ago... even though they dragged out paying off our mortgage demanding her death certificate before they would process the payout... I no longer deal with ANZ

 

[Greg350]

I do not use a phone for banking only my desktop so unable use fingerprints or eyes!!!

You can get a finger print reader for desktops. Anyway, you are worrying about something that is not new. This is an ANZ story, other banks have been doing this stuff for years, ANZ are catching up.

 

[Tipsy]

Never ever will I be using any of the Criminal major banking cartels facilities no matter what they offer... They are worse than any political party for their lies and I will never ever trust them.