It is without question the emergence and proliferation of new digital technology has the opportunity to revolutionalise the way companies move goods to customers.
This evolution will change the way trade and supply chain financing is accessed, as paper processes are abandoned for their digital equivalents.
At ANZ, we’re excited about the opportunities this will bring to the sector, with improved processes and innovative products placing increased access to financing in the hands of customers, helping support growth.
ANZ has and continues to invest in emerging technologies. Fileactive, in place since 2011, is a service which allows businesses to automate the processing of payments by connecting their systems directly with ANZ’s, removing the need for human intervention.
Lygon, in pilot, is a distributed-ledger technology based solution, aimed at transforming the process around bank guarantees, supporting beneficiaries, applicants and financial institutions.
These are just two of our many services which have helped drive our customers into the digital era and solve real problems. We’re proud of these offerings and in many cases they are market leading.
But there’s one tool at ANZ we find to be more powerful and effective than any of our trade services: a keen ear from a banker.
It sounds pretty simple, but at ANZ, we genuinely listen to our clients and rally to act on that feedback. We know for ANZ customers, a tool is only handy if they have a problem it can solve. We don’t create digital products for digital product’s sake. We use feedback to design and apply solutions which really help - not just sound impressive.
We believe listening is an integral part of our value proposition. Listening means understanding what we can do better and what our customers want us to solve. This is about having experts all through the value chain who take this feedback and turn it into solutions.
It’s also a big reason why we’re consistently ranked as the number-one trade bank in Australia. We have just been recognised again on that front, by East & Partners, for the tenth-consecutive year. We've also been nammed by Peter Lee Associates as the leading provider of trade services in Australia.
As the world moves into recovery mode in the wake of the pandemic, we know that listening – and problem solving – will become even more important.
It’s a practice that has become embedded at ANZ in the months since the crisis, Alan Huse, Head of Transaction Banking Product says.
“Customers have consistently called out their appreciation for ANZ during the crisis,” he says. “Our bankers have been very proactive in seeing how we can help customers and this has deepened our understanding of business models and strengthened our partnerships.”
“In many cases, this assistance has been quite operational – but demonstrated the importance of digitisation as a longer-term solution.”
As the impact of COVID-19 played havoc with ANZ clients’ businesses early in 2020, what quickly became clear from those conversations is trade needs to digitise – and quick.