ANZ’s retail banking boss Maile Carnegie says the bank’s new technology platform known as Plus will deliver “significant competitive advantage” over its big rivals and ultimately allow the company to cut the cost of mortgages.
Acknowledging the market’s impatience after the platform was launched with minimal functionality more than two years ago, Ms Carnegie said Plus was 35 per cent cheaper to run compared to ANZ’s older technology systems, and the lower costs would be passed on to customers.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com