One of the biggest question marks surrounding ANZ’s strategy prior to its update was what its delayed tech platform, ANZ Plus, would look like — or whether it would cease to exist altogether.
ANZ chief executive Nuno Matos told investors today that the bank remained committed to delivering the platform and that its launch would be accelerated. The strategy update was focused on costs, and this included ANZ Plus, which will see project expenses cut.
Under the plan, the bank expects to save $800 million during FY26 and will allocate $1.5 billion annually to investment. This spend includes delivery of ANZ Plus.
Matos lamented the slow pace and high costs of the projects, and the fact that Plus had been built vertically rather than horizontally.
