ANZ has established an international technology and digital business advisory panel to help the bank in its digital transformation.
The bank said the panel will meet quarterly with the board's technology committee and provide advice on strategic applications of new technologies, and on emerging technology, digital, and social media trends that could potentially affect the bank's business and strategic direction.
Members appointed to the panel include Aliza Knox, Twitter Asia Pacific and Latin America managing director of online sales; Don Kingsborough, former vice president global retail and head of strategic development of PayPal; Filippo Passerini, former group president global business services and CTO of Procter and Gamble; and Gerald Florian, senior vice president, strategy and engagement, IT as a service, Dimension Data.
ANZ chairman David Gonski said a recent visit to the United States has helped the board understand and refine its approach to its digital transformation.
"The financial services industry is now undergoing rapid change driven by advances in digital technology. The aim of establishing this advisory group is to ensure the board and management have access to external perspectives, specialist insights, and trusted advice to ensure we successfully navigate future opportunities and challenges," he said.
In May, ANZ reported that as it continued to undertake an enterprise-wide approach to its technology investments, such as simplifying its banking processes, it helped the company achieve a statutory profit after tax of AU$3.5 billion for the first half of 2015 financial year, up 3 percent from the corresponding half in FY14.
At the time, ANZ reported it invests approximately AU$1.2 billion per year on technology-based capabilities, such as wholesale digital, consumer digital, and data and analytics capabilities; infrastructure security; and process automation workflow.
During the half year, ANZ said it invested heavily in physical, mobile, and digital channels to support its retail customers. This included the launch of tap-and-PIN ATMs, which can read customers' cards without users having to insert them into the machine.
ANZ has been pushing to fast-track digital change in its company since the end of last year when CEO Mike Smith outlined that it was a key objective for the group.
"At ANZ, I want us to fast track the change to a digital culture," he said. "We need to embrace the change in customer behaviour that technology brings, and to make sure we are offering the best possible digital services.
"We need to adapt to the widespread disruption of traditional business models, and make sure we are helping our clients thrive in these exciting but challenging times."