IBS Journal December 2015


ANZ digital banking software revamp goes wrong


Australia and New Zealand-based banking group, ANZ, had its online banking go down for six hours due to a software upgrade failure. The bank had planned to launch a new


internet banking platform on the weekend of 28th-29th November, but there were ‘technical issues’ on 30th November which meant thousands of customers could not use ANZ’s online banking. People vented their anger on social media with many criticising the bank’s decision to roll out the changes at the end of the month. The bank’s goMoney app was back up and running by 1pm (GMT) on 30th November and a spokesman for ANZ said internet banking started working again at 5.30pm (GMT) on the same day. On 30th November on Twitter, ANZ


tweeted: ‘We have reverted to the original user interface in internet banking for busi- ness for now.’ At the time of going to print, there have been no further tweets on the issue.


The initial plan for the revamped site was


based on SAP’s Omnichannel Digital Platform offering (the product stems from Sybase 360). The project has been in the making for a number of years, with the bank origi- nally hoping to launch the new site in 2014. However, this was pushed back to 2015. The legacy set-up – different mobile and online platforms – meant that the work had to be duplicated, but with the intro- duction of the SAP Omnichannel Digital Platform the bank hopes that any changes will have to be introduced only once and then just pushed out across all channels. ANZ says the goal is for its 2.1 million


internet banking customers in Australia to be able to access a ‘full suite of internet banking features from any device as well as improved security features’. Matthew Boss, ANZ managing direc-


tor products and marketing, says: ‘This upgrade complements our existing mobile banking application ANZ goMoney.’ Boss adds that ‘smartphones are


expected to account for 90% of all internet


traffic by 2020’, so ANZ is looking to capital- ise on this anticipated development with the upgrade. ANZ says it has also strengthened the


security of internet banking with the intro- duction of ANZ Shield, which authenti- cates transactions and activity using a one- time security code to allow customers to increase pay anyone limits or instantly reset their password. This initiative is part of ANZ’s AUD 1.5 billion ($1.08 billion) five-year ‘Banking on Australia’ programme, which was launched in October 2012 to change the way the bank does business. ANZ CEO Mike Smith is pushing for a


‘fast track’ to change the bank to a ‘digital culture’. Earlier this year, ANZ went live in its


first overseas subsidiaries with SAP’s digital offering. The bank has been rolling out a new mobile platform across its non-domes- tic operations in Asia, covering retail, com- mercial and SME businesses.


Antony Peyton


Apple in talks with major US banks over new P2P mobile payments service


Apple is believed to be in talks with major US banks over a new peer-to-peer (P2P) mobile payments service. The new service is understood to be


an expansion on Apple Pay, Apple’s NFC- powered mobile payments system. Little is currently known about the planned ser- vice, but a Wall Street Journal report states that it will allow users to send each other payments much like Paypal’s Venmo. Communication between Apple and the banks is ongoing, it is understood. The banks involved in the project are


rumoured to be Chase, Capital One, Wells Fargo and US Bank. Person-to-person payments systems,


like Venmo and Square Cash, are advertised as a way to quickly send cash to friends. It is likely that whatever emerges from Apple’s consultation will be heavily linked to Apple Pay.


8


A cashless future? A tentative date for the potential new service has been set for 2016. Charges (if any) by Apple for customers for using the planned service are yet to be unveiled. Apple CEO Tim Cook recently told


students at Trinity College in Dublin that by the time they hit their late 30s and 40s that their children ‘will not know what money is’. The Cupertino-based company has


been at the forefront of innovation when it comes to paying for goods without cash, most recently with the launch of its mobile payments service Apple Pay. The system has been widely adopt-


ed, yet has faced opposition from some corners, notably in Australia where four major banks announced their intention to block its progress. Despite this, Apple Pay has announced its plans to start operat-


© IBS Intelligence 2015 www.ibsintelligence.com


© reuters.com


ing in Australia soon, bypassing the banks and inking a partnership with American Express instead.


Alex Hamilton


news


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