Big changes are coming for this major bank! Here's what customers need to know

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.


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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.
 

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