ANZ migrates to single banking platform in NZ

ANZ Bank (ASX:ANZ) has revealed its New Zealand arm will adopt a single banking IT platform across its operations.

Under the arrangement, ANZ New Zealand will deploy the FIS Systematics core banking platform, already in use by subsidiary National Bank of New Zealand, across its operations by late 2011.

ANZ New Zealand CEO, David Hisco, said that operating two separate IT platforms across both banks had led to a great deal of duplicated time and effort.

“This decision to shift to a single core banking platform is about focusing our technology investment,” he said.

The move is aimed at simplifying the business and improving customer service, he added.

ANZ New Zealand has meanwhile announced that customers of both its banks will be able to make transactions at the other bank without incurring a $3 deposit transaction fee. Both banks already have ATM sharing arrangements in place.

ANZ in 2003 acquired the National Bank of New Zealand from UK firm Lloyds TSB, then the Lloyds Bank, for $5.5 billion.

ANZ shares ended Thursday's trading 0.85 per cent higher at $22.470.

Copyright © 2010 IDG Communications, Inc.

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