Internet Banking in ANZ Bank: Project Tiger's Leap Toward Scale

This Financial Insights report revisits ANZ Bank two years after the implementation of its Internet banking system for consumer banking, presenting key insights learned as the bank scaled up its Internet banking proposition.

Michael Araneta, senior research manager of Financial Insights Asia/Pacific IT Benchmarking Financial Insights' Asia/Pacific IT Benchmarking Advisory Service remarks, "There are many valid motivations for pursuing enhancements to the Internet banking channel. ANZ Bank succeeded because it understood core to these objectives should be the improvement in the customer experience. The right customer experience framework will create the virtuous dynamics of higher activity rates, improved product take-ups, higher customer loyalty, and lower cost-to-serve."

Araneta continues, "There will be new metrics used in assessing the effectiveness of the online channel." Citing product sales, Araneta remarks, "The drivers of cross-sell in the online channel have to be understood. Banks will continue to thresh out whether higher product holdings is a cause or an effect of the customer activity online."