ANZ National moves to single IT platform
(25 November 2010 – New Zealand) ANZ National Bank said has confirmed plans to move to a single core information technology system, igniting speculation that it may adopt a single brand and rationalise its ANZ and National Bank branch networks with the possible loss of hundreds of jobs.
ANZ Bank bought National Bank in 2003 for A$5.7 billion.
ANZ National Bank chief executive David Hisco said ANZ would adopt National Bank's Systematics banking system for all its operations by late next year.
'Running two banking IT systems has resulted in a large amount of duplicated time and wasted effort. Importantly, it’s also limited our flexibility to deliver better services to customers.'
From next year ANZ and National Bank customers would be able to make deposits in either bank without incurring a $3 deposit transaction fee, he said.
'We need to make life simpler and more convenient for all our customers.'
ANZ National Bank put the brakes on the IT merger last year. Sources told The Dominion Post then that a business case had indicated the cost of the technology merger would be significantly higher than an expected figure of $200 million.
A common information technology system might mean ANZ and National bank customers could carry out their banking at branches of either bank.
The merger was first mooted in 2008 when Finsec campaigns director Andrew Campbell said a consolidation of branch networks could see the loss of hundreds of the bank's 5000 jobs.
ANZ National Bank chief executive David Hisco said ANZ would adopt National Bank's Systematics banking system for all its operations by late next year.
'Running two banking IT systems has resulted in a large amount of duplicated time and wasted effort. Importantly, it’s also limited our flexibility to deliver better services to customers.'
From next year ANZ and National Bank customers would be able to make deposits in either bank without incurring a $3 deposit transaction fee, he said.
'We need to make life simpler and more convenient for all our customers.'
ANZ National Bank put the brakes on the IT merger last year. Sources told The Dominion Post then that a business case had indicated the cost of the technology merger would be significantly higher than an expected figure of $200 million.
A common information technology system might mean ANZ and National bank customers could carry out their banking at branches of either bank.
The merger was first mooted in 2008 when Finsec campaigns director Andrew Campbell said a consolidation of branch networks could see the loss of hundreds of the bank's 5000 jobs.
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