Banking on the Future
ANZ's Journey to Hyper-Personalised Customer Engagement
In the high-stakes world of Australian financial services, where customer loyalty is as fluid as the digital landscape, ANZ found itself at a critical crossroads. Despite its towering presence, with over 38,000 employees and boasting annual revenues exceeding $20 billion—this banking behemoth was facing an existential threat: the risk of becoming just another commodity in a sea of financial service providers.
Enter DBZ, armed with a vision to transform ANZ from a traditional financial institution into a beacon of customer-centric, real-time engagement.
THE OPPORTUNITY
Transformative Martech Enhancements
At first glance, ANZ's position reflected the typical evolution of large institutions in a dynamic digital landscape. As Team DBZ explored further, we uncovered a wealth of exciting potential:
Customer Experience Renaissance: ANZ stood at the threshold of reclaiming its leadership in customer experience, with the opportunity to leapfrog competitors through innovative, personalised engagements through its new digital bank offering ANZ Plus.
Bridging Ambition and Reality: The gap between ANZ 's vision for hyper-personalization and its current capabilities represented an exciting journey of transformation and growth.
Tech Synergy: The existing array of systems — Unica, Adobe, PEGA, and Salesforce held immense potential for integration, promising powerful synergies and enhanced capabilities.
Data Activation: Customer insights, currently under-utilised, were poised to become the driving force behind personalisation efforts, ready to be unlocked and leveraged.
ANZ had the opportunity to undergo a transformative journey, emerging as a digital banking powerhouse. With strategic enhancements, they could not only catch up but set new industry standards in the age of digital-first banking.
OUR APPROACH
Architecting Banking Innovation
Faced with this Gordian knot of challenges, our team embarked on a comprehensive transformation journey:
Deep Dive Discovery: We conducted an intensive series of interviews and multiple workshops, mapping the intricate landscape of ANZ's current capabilities and future aspirations.
Strategic Synthesis: We crafted a bespoke strategy that wasn't just about catching up—it was about leapfrogging the competition. At its heart: a vision for building decisioning capabilities at scale, powered by real-time interaction management.
Tech Ecosystem Evolution: This wasn't a mere upgrade; it was a reimagining. We orchestrated a symphony of existing and new technologies, with PEGA taking centre-stage for decisioning, harmoniously supported by Adobe and Unica.
Dual-Track Transformation: Recognising the unique needs of both ANZ and its new venture, ANZ Plus, we developed interconnected three-year roadmaps, ensuring both entities were poised for success.
THE EXECUTION
Precision in Motion
With our strategy set, we rolled up our sleeves and began the intricate work of implementation.
Phased Perfection: We broke down the task into three key phases: discovery, roadmap development, and vendor engagement. Each phase was crafted to build upon the last, culminating in a future-state personalisation vision that was both ambitious and achievable.
Collaborative Choreography: Our team worked in concert with technology giants like Adobe and PEGA, ensuring their solutions were perfectly attuned to ANZ's personalisation symphony.
Adaptive Architecture: As new insights emerged, we fine-tuned our approach, particularly in addressing the strategic hurdles that had previously kept ANZ from achieving best-in-class status.
“You can’t decouple acquisition from personalisation. They go hand in glove.”
Andrew Palmer — Head of Personalisation and Digital Sales, ANZ Bank
THE RESULTS
A New Era of Banking Personalisation
The true measure of success went beyond metrics. We saw a banking giant reawaken, now armed with the agility of a fintech startup and the wisdom of a centenarian institution with golden outcomes:
Acceleration in Time-to-Market: Streamlined processes and integrated technologies catapulted ANZ's ability to launch personalised initiatives through its new bank venture and then reverse in its decisioning capability to the legacy brand.
Millions Saved: By orchestrating existing investments in Adobe, Unica, and PEGA, we helped ANZ avoid the pitfall of unnecessary tech spend, maximising ROI.
Cultural Metamorphosis: We witnessed a shift from project-driven to customer-centric thinking, with internal teams rallying around the new vision for personalisation.