Drive digital transformation
ANZ CEO Shayne Elliott recently said the pace of change is so fast we have to become better at learning from each other. And it’s so true: being a digital bank is about learning from and working with partners and customers.
The Pacific islands are made up of smaller isolated economies without access to global platforms but everyone has a phone and half the people have smart phones.
ANZ was the first bank to launch a Pacific-wide mobile banking app, making it a lot easier for customers to bank. We have seen a 10-20 per cent increase in the use of internet banking in the past 18 months. A lot of that has come through education and working with partners and customers.
Increase FY16 to 18
In order to address the falling engagement score, a training program was introduced to build confidence, capability and give everyone a voice. Our staff were encouraged to be professionally active on social media - primarily Twitter and LinkedIn. They then trained clients and industry groups.
The impact was transformational. It gave our people a voice, built confidence and capability and helped build deeper relationships with clients and stakeholders. It brought the outside in, linking them to global experts in their field.
By following leaders on social networks, staff now know far more about the bank’s strategy, values and purpose. One staff member said they now have access to the world’s experts on their mobile and they are learning best practice for free.
A lot of brands are struggling with trust issues, so having staff as advocates by getting them out there on social, building deeper relationships with customers and sharing education and expertise is critical.
Values trump culture
Sadly, the Pacific has entrenched problems around homophobia, everyday sexism and domestic violence and at times “culture” is used as an excuse with the implication it can’t be changed.
While we are respectful of culture, the bank is very clear about our values around diversity, gender equality, inclusion and bringing your whole self to work – this can create tricky ground. However, the breakthrough again came from our people.
A key executive pointed out Pacific values and religious values have, at their heart, inclusion for all. So we began talking about the values that bind us together rather than the issues that divide.
At the same time people saw I would speak up on difficult issues and reached out for help. As a leader, I learnt I am expected to be their voice and have the tough conversations which drive positive change. Living in close knit communities can result in a fear of consequence so an independent person can help.
Get into the weeds
It is incredibly important in the Pacific to be across the detail - not to micromanage but to know what’s going on and to question what we have done in the past. When I arrived, there were processes that had been decided on the fly, so I had to learn to get the right people in place and strengthen governance. To do that I had to know what was going on.
That’s the legacy I want to leave: our people have the capabilities, structures and discipline to carry on so ANZ is known for its professionalism and ethics.
People, not products
When we launched a term deposit account in Fiji, it had a market leading interest rate of 3 per cent. But this is more than just a great product. One employee explained “this will help people save more and get a home”. For our people it comes down to customer care because their focus is their community.
Our people are professional and hard-working, yet many spend part of their free time giving back to the community - whether it’s picking up litter on the beach, repainting the local hospital or raising money to upgrade two oncology rooms at Lautoka Hospital. Their community spirit is second to none and community work is a great bridge from ANZ to customers to help build trust.