Beyond institutional businesses, Davine says government has found deep value in its work with ANZ around data – particularly through the recent COVID-19 crisis.
“Governments are interested in using data in a couple of ways,” she says. “One is to better understand its own transactions, payment types and liquidity and see this all in one place.”
“The second piece is to use deidentified, aggregated data to help form policy decisions and to interrogate a problem. We've taken a design-led approach to these problem statements and show that we're able to think differently to our competitors.”
Davine says ANZ has arrangements in place to share data on consumption and social distancing with several clients, including in the public sector.
“This is being used to better understand the economic impacts of COVID and to gauge the effectiveness of policy measures and of recovery,” she says.
A long way
Schroder says the bank’s capability has come a long way in five years, when the team consisted of just himself and a data scientist.
“We were running off a desktop computer,” he says of the time. “Fast forward to now, we've got 50 dedicated data scientists, and data engineers who are focussed purely on adding value to customers.”
“We have [a process] where we work alongside our bankers and designers to engage with our customers on the problems that matter to them.”
Schroder says the key to ANZ’s strength in the market its ability to partner with customers seeking specific solutions.
“Our institutional customers want to partner well, particularly in the next five to 10 years, in and around the area of digital data and innovation,” he says. “Being a good partner is front of mind for them.”
“We have an engagement model where we can work with our bankers to provide context to the data problems we're working on.”
For Davine, data is a critical part of ANZ’s customer proposition, although importantly, is seen as just that – a part. Fortunately, the bank’s capability extends well beyond data, too.
“It's a really important piece of the package,” she says.
Shane White is Content Manager at ANZ