A.N.Z. digital transactions to improve

Australia and New Zealand Banking Group Limited (A.N.Z.) customers can expect an improved digital transaction system next month. 

The bank’s Regional Executive, Tessa Price said A.N.Z. is the first bank in the Pacific that will launch a Pacific wide app with enhanced features to make payment easier for their customers. 

“This app will give our customers the ability to easily transfer money,” Ms. Price said. 

“We know everybody has a mobile phone device, so they’ll be able to transact, they’ll be able to pay other banks, so to start it was only A.N.Z. to A.N.Z., but now our customers can make bill payments with other banks and international payments as well, and its touch fingerprint log on app.”

Ms. Price said there is remittance for customers transferring money overseas, but it’s fee free if transactions are done online. 

“Customers need to have an A.N.Z. account, they just need to download the Pacific wide app from the app store, and put in their details and get started.” 

In highlighting the bank’s initiatives, she said A.N.Z. is the first bank to release more secure, chipped EFTPOS terminals to mitigate card fraud. 

“We have a two factor authentication on internet banking to protect our customers, so no customers have reported compromising their logon details. 

“A.N.Z. plays a strong role in developing the economy of the region with our financial results, they were strong last year, net profit was up, loans were reduced because that was really due to our focus on long term growth plan. 

“We pay AUD$25 million (T$47.2) per annum of taxes, we employ 1,200 people across the region, we pay AUD$48 million (T$90.6) in wages, and we’ve invested in the past six years AUD$30 million (T$56.6) in projects.”

Ms. Price said on the bank’s derisking strategy, their provisions decreased, which means they can invest more. 

“In Fiji for example we helped 500 families get a home last year, our investment into our electronic banking to make digital better – automated teller machines and E.F.T.P.O.S., focus on automation and the fact that we now process 1.2 million transactions every year, straight through processing, which is 21 percent of our transactions, and that’s only going to increase,” she said. 

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