How ANZ reduced client onboarding times by 80%
When ANZ sought to penetrate the Asia-Pacific region and establish itself as a serious cash and liquidity management player, the lender knew it needed to work with a credible third party vendor to take its own platform up a level.
“When we entered into Asia [in 2010] we knew… customers were already exposed to sophisticated solutions,” explained Balaji Natarajan, head of cash management and client solutions at ANZ. “We wanted a market leading platform. After an extensive RFP process, we opted to work with iGTB.”
ANZ was keen to attract treasurers to its ability to help them exert greater control over their funds on a real-time basis. “We have [since] been able to offer automated solutions on cross-border sweeps, notional pools, and the ability for customers to visualise the structures.”
The new platform has also meant ANZ’s ability to onboard new clients onto cross-border sweeps for notional sweeps and pooling has been much faster, up by 80% said Natarajan.
Of course, the efficiency benefits the bank’s internal operations. “We gained from [introducing] a global standard processing application,” he said. “We saw an 83% uplift in intra-ANZ transfers, resulting in a 140% increase in volumes, not to mention a three-fold increase in interest calculating accounts and processing.”