Category: ANZ

Source: ANZ statements

Consumer confidence increased 1pts, the four-week moving average was up 1.8pts.

Among the mainland states, confidence rose in NSW and SA, but fell in Victoria, Queensland and WA.

‘Weekly inflation expectations’ were up 0.3ppt to 5.3%, while the four-week moving average declined to 5.3% from 5.4%.

‘Current financial conditions’ fell 2.5pts after a 9pts jump the week before. ‘Future financial conditions’ gained 2.4pts rising above the neutral 100-level for the second time since January 2023.

‘Current economic conditions’rose3.8pts, while ‘future economic conditions’ declined 2.1pts.

The ‘time to buy a major household item’ subindex increased 3.1pts.

Source: ANZ statements

A range of financial support measures are available for ANZ customers affected by the heavy rains and flooding, including:

• Short-term payment relief on home loans, credit cards, personal loans and some business loans (we may still charge interest during that period)
• Waiving fees for restructuring business loans
• Waiving fees for accessing term deposits early

ANZ General Manager Queensland, Jackie Auf der Maur, said: “We understand the challenges many local businesses and households may be facing at this difficult time, and are here to support our customers with immediate financial help.

“When they are ready, I encourage our customers to connect with us if they need assistance. We have specialist staff available to discuss support measures including short-term payment relief on a range of products, such as home loans and some business loans.

“I would also like to thank all the emergency services members and volunteers who have helped hundreds of Queenslanders.”

ANZ customers affected by the floods can contact ANZ’s dedicated financial hardship team on 1800 149 549 or at anz.com.au/support/natural-disaster-support/.

Customers can also visit their local branch once usual operations commence, or they can contact their relationship manager to discuss the impact on their business or personal circumstances.

Customers with ANZ Home and Contents Insurance may also be eligible for emergency funds and temporary accommodation.

To lodge an insurance claim, customers can call 13 16 14 or visit anz.com/insuranceclaims

Source: ANZ statements

ANZ’s PayTo initiation service will allow businesses to send a payment agreement (a request to debit) to their customers via digital banking platforms. The biller’s customers can then review and accept the payment agreement, providing authority to the biller to collect the payment. The payment agreement can be one-off or recurring.

ANZ Managing Director Transaction Banking Lisa Vasic said: “We’re pleased to have worked with Australian Bond Exchange to successfully execute our first PayTo payment agreement and payment initiation, the first major bank in Australia to have done so via a solution that has been built internally.

“We see PayTo as a game changer in the account-to-account payment space, enabling the creation of new payment experiences not possible under existing payment rails in Australia. We know payment friction is real and this service will help make collecting payments, and initiating third-party payments, easier and more transparent – while also offering more control over the payments process.”

ANZ Institutional’s New Payments Platform (NPP) infrastructure was built using in-house capability with no dependency on third party solutions.

“Many Institutional customers are telling us they want the security and simplicity of a natively built bank-grade service, which is why we’ve built PayTo initiation capability in-house,” Ms Vasic said.

Australian Bond Exchange Chief Executive Officer Bradley McCosker said: ““At the core of our business is a commitment to provide equal access to financial products and markets for all investors.  Part of this commitment is providing Australians with clear, accurate and timely information, together with the access, tools, and services they need to make excellent financial decisions. Using ANZ’s PayTo biller functionality we’re able to provide our clients the ability to confirm and settle transactions in real time which helps deliver trust and security in the payments system.”

Australian Payments Plus General Manager Business Payments Katrina Stuart said: “We are delighted to see ANZ come to market as the first major bank offering proprietary PayTo payment initiation services to their corporate and institutional banking customers. This will enable ANZ customers to realise the many benefits of PayTo including immediate payment confirmation, real time account validation and enhanced data for easier reconciliation.”

ANZ will continue working with more customers to roll out PayTo for Billers over the coming weeks, with wider uptake expected through 2024.

 

How the first successful transaction worked

ABE connected into ANZ-built PayTo Application Programming Interfaces (APIs), allowing ABE to send a payment agreement to a customer to authorise. Once approved by the customer, ABE collected funds from the customer’s nominated bank account.

The collection of funds by ABE was cleared and settled via the NPP infrastructure in near real-time.

Source: ANZ statements

In a judgment delivered on 13 October 2023, the Court found ANZ should have notified the Australian Securities Exchange of the joint lead managers’ take-up of shares in the placement.   

A civil penalty of $900,000 was imposed on ANZ for a continuous disclosure contravention that the Court found occurred on 7 August 2015.

ANZ Chief Risk Officer Kevin Corbally said: “Given the importance of continuous disclosure laws, there is benefit for financial market participants in obtaining guidance from the Full Federal Court.”

ANZ does not intend to provide any further comment at this time.

Source: ANZ statements

As the end of the year approaches and attention turns to the holidays, cyber criminals often find ways to take advantage of festive celebrations and customs.

ANZ Head of Customer Protection, Shaq Johnson, said: “As always, but particularly around key retail periods, it is important for customers to maintain a heightened level of awareness online to remain cyber safe.”

“People are busier than usual, and they’re also spending more time and money online, hunting around for deals. Common scams to watch for include fake parcel delivery or ‘parcel stuck’ notifications, bank impersonation and business email compromise attempts, ‘Hey Mum’ scams, fake e-gift cards, and travel-related scams.”

 

In 2023, ANZ saw a 59 per cent reduction in customer losses incurred by scams. Over that time, the bank’s customer protection team prevented more than $100 million going to cyber criminals.

“Cyber criminals will use several tactics to attempt to trick people into providing personal and financial details to them,” Mr Johnson said.

“The ‘parcel stuck scam’ is common at this time of year. This online scam sees scammers trick individuals into paying additional fees or providing personal information by claiming that their package is stuck in transit. These can be difficult to spot, especially as most people are expecting deliveries,” Mr Johnson said.

“The best gift you can give this December is to take proactive steps to safeguard yourself and your loved ones and be aware of the various tricks criminals may use when purchasing online. We always say, if it seems too good to be true, it probably is.”

Key ways to stay safe online:

 

1. Be cautious of tempting offers: Some things are too good to be true. Be mindful of offers that place a time pressure on a purchase, urging you to buy now.
2. Beware of new online stores: Watch out for new online stores with very low prices. While they may be tempting, check the website’s registration date using the ICANN Lookup search – if it was recently registered, it could be a scam.
3. Don’t click on unexpected or unusual links: Never click on links sent via text, email or pop-up messages on social media. Chances are they will lead to a fake website. Always search for the official site in a web browser.
4. Check the website URL: Scam sites sometimes use spelling very similar to the URL of official sites. Check for dashes, symbols, or typos in the URL.
5. Verify information independently: Instead of relying on the communication received, contact the shipping company directly using their official website or phone number to confirm the status of your delivery.
6. Use PayID or BPAY: If you can, use secure payment methods such as PayID or BPAY – and make sure the name matches the person or company you’re paying. Beware of unusual payment arrangements such as vendors that only accept gift cards.
7. Inspect items in person: Where possible, always physically check items before making a purchase. The ability to view an item in person substantially lessens the likelihood you’re walking into a scam.

ANZ’s customer protection teams and systems operate 24/7. Customers who believe they may have been a victim of a scam should contact us immediately, on 13 33 50 or visit us at http://www.anz.com.au/security/report-fraud/ for more information.

For more information on the types of scams and how to protect yourself visit http://www.anz.com.au/security/types-of-scams.

Source: ANZ statements

Funded by ANZ employees, the Community Foundation sees every dollar staff contribute through the workplace giving program matched by the Bank with an additional two dollars. Since 1988, around 951 grants valued at more than $7.2 million have been distributed to groups across Australia.

Chair of the Foundation, Christine Linden said: “The power of giving back to improve lives and empower communities is at the heart of ANZ’s Community Foundation. I continue to be inspired by the ingenuity and dedication of our community partners and their efforts to make a meaningful difference using the generous donations contributed through our workplace giving program.”

“The ANZ Community Foundation is committed to making a meaningful impact by funding projects in the areas of housing, financial wellbeing and environmental sustainability. This year we have been able to increase both the number of grants and the amount of funds distributed and I look forward to seeing the ongoing impact of these projects and initiatives as they come to life,” Ms Linden said.

In 2023, 20 grants were given, with the average recipient receiving $22,000. Four each were distributed in Victoria, New South Wales and Queensland; three each in Western Australia and South Australia; and two in Tasmania. 

Category	Amount	State	Organisation	Project details
Housing	$17,500	VIC	Cocoon Education	Establishment of education and employment pathways program to support people at risk of homelessness.
Housing	$15,000	SA	Anglicare SA	Program to address the needs of vulnerable young people moving out of state foster care.
Housing	$16,000	WA	Stepping Forward	Anglicare WA offer services supporting children, young people, individuals, families and communities.
Housing	$30,000	QLD	Butterfly Lodge Homeless Shelter	Initiative to upgrade and install 15 modern, energy efficient air conditioners to make the accommodation operational year-round.
Financial wellbeing	$22,000	VIC	Staying on Track	Delivery of programs incorporating a range of services aimed at people experiencing disadvantage and financial hardship.
Financial wellbeing	$30,000	SA	Next Step Program	Delivery of an outdoor education program for young people aged 13-18 to build self-confidence and resilience.
Financial wellbeing	$15,000	NSW	Cancer Council	Creation of financial literacy resources to specifically support people impacted by cancer.
Financial wellbeing	$16,000	NSW	WindGap Foundation	Funding to expand access to online financial literacy services for participants with intellectual disabilities.
Financial wellbeing	$22,500	QLD	Community Spirit Foundation (NT)	Delivery of a range of education programs to support Indigenous children and families.
Environmental sustainability	$25,000	VIC	Cerberus to Red Hill South Biolink Project	Restoration of vital koala habitat through the revegetation of private land on the Mornington Peninsula.
Environmental sustainability	$30,000	TAS	Saving the Red Fish from Extinction	Support for a program aimed at helping species most at risk from extinction.
Environmental sustainability	$30,000	NSW	Rescue Aust – Emergency Response	Providing recovery support for wildlife and domestic animals impacted by bushfires and other emergencies.
Environmental sustainability	$30,000	QLD	Protecting a wetland eco-system on Yourka Reserve	Project to protect ecosystems and wildlife in an important conservation area in Far North Queensland.
Other	$26,250	VIC	Sustainable Healthy Integrated Food towns	A local social enterprise to help create jobs, support local farmers and producers, reduce waste and improve community wellbeing.
Other	$30,000	SA	Documentary Australia	Funding projects that harness the power of documentaries as a tool for positive outcomes in social change.
Other	$20,000	TAS	Safe Sleeping	Ensuring disadvantaged families have access to essential items for babies and children.
Other	$20,000	WA	Leading Youth Forward	Improving the livelihood of at-risk young people through pairing mentorships and positive life experiences.
Other	$15,000	WA	Final Wish Program	A volunteer run program to enable people who are terminally ill to visit a place of personal significance as a final wish.
Other	$15,000	NSW	Creative writing program	A literacy program to improve the future educational and employment prospects of participants.
Other	$14,750	QLD	DV Safe Phone	A program that collects, repurposes and gifts mobiles phones to people impacted by domestic violence to help when it’s needed most.

About ANZ Community Foundation: ANZ Community Foundation uses regular donations of ANZ Staff to provide grants to small yet impactful charities and organisations in local communities. The Foundation is a charitable trust funded by staff payroll donations and managed by ANZ staff – a National Advisory Board and State Committees. ANZ staff can join the Foundation and make regular donations from their pay which is matched by the bank at the rate of $2 for every dollar donated. ANZ covers all administration costs, so donations are tripled and go straight to charities across Australia.

About ANZ Workplace Giving: Since inception, ANZ’s Workplace Giving program has distributed more than $23 million to our community partners. ANZ won the ‘Best Employer Grants Program’ category at the 2022 Australian Workplace Giving Awards. At the 2020 Workplace Giving Excellence Awards, ANZ won the ‘Best Employer Response to a Crisis’ category, and was recognised with Silver in the Most Innovative Charity & Employer Partnership together with The Smith Family.

Source: ANZ statements

Consumer confidence increased 4.4pts, the four-week moving average was up 1.6pts.

Among the mainland states, confidence rose in NSW, Victoria, Queensland, and WA, but fell in SA.

‘Weekly inflation expectations’ fell 0.6ppt to 5.0%, while the four-week moving average declined to 5.4% from 5.5%.

All the confidence subindices registered gains. ‘Current financial conditions’ jumped 9pts and ‘future financial conditions’ were up 3.0pts.

‘Current economic conditions’ rose 3.4pts and ‘future economic conditions’ gained 5.4pts.

The ‘time to buy a major household item’ increased slightly by 1.6pts after an 8.7pts decline in the week before.

Source: ANZ statements

This follows an earlier judgment, delivered on 13 October 2023, in which the Court found that ANZ should have notified the ASX of the joint lead managers’ take-up of shares in its 2015 institutional share placement.

The Court has today ordered ANZ to pay a civil penalty of $900,000 in relation to a continuous disclosure contravention that the Court found occurred on 7 August 2015. 

ANZ is considering today’s decision together with the judgment delivered in October.

Source: ANZ statements

ANZ Samoa Country Head, Sucharu Tandon, said: “We know that one of the biggest perceived barriers to digital banking is the cost of data, yet the reality is that using the ANZ Pacific App to check your account balance or make a payment uses very little data – particularly when compared to watching a video on social media.

“Digital banking is key to overcoming a number of challenges, including distance to banking services and cost of accessing these services.

“The value of digital banking is not just about helping our customers to bank on their own terms. It’s part of embracing a digital future that is important for all of us.

“We’ve seen a 19% year on year increase in the number of active users of the ANZ Pacific App. We hope to see this number grow even higher as a result of this offer, and we thank Vodafone Samoa and Digicel Samoa for bringing this to life for our customers,” Mr Tandon said.

Vodafone Samoa CEO, Rana Bose, said: “We are excited to support ANZ Samoa in this revolutionary step towards digital banking in Samoa by waiving data charges for Vodafone Samoa customers using the ANZ Pacific App. This is a gateway to a seamless banking experience, a step towards the digital economy and making banking a universally empowering experience in Samoa. As always: Together We Can!”

Digicel Samoa CEO, Anthony Seuseu, said: “In an era where connectivity is at the heart of progress, Digicel Samoa is excited about this ground breaking partnership with ANZ. By providing data-free access to the ANZ Pacific App in Samoa, we’re making significant strides to ensure secure and convenient banking services. This collaboration underscores our commitment to innovative solutions, envisioning a future where digital financial services are easily accessible, transcending barriers for a more connected and prosperous community.”

Central Bank of Samoa Governor, Maiava Atalina Ainuu-Enari, said: “The ANZ Samoa partnership with Vodafone Samoa and Digicel Samoa is indeed welcome news. It exemplifies the spirit of collaboration that underpins our financial inclusion efforts. This announcement follows the launch of our National Financial Inclusion Strategy 2.0 on 14 November, and I congratulate and commend everyone involved in this important initiative to benefit our people.”

Source: ANZ statements

Consumer confidence decreased 0.3pts, the four-week moving average was also down 0.3pts.

Among the mainland states, confidence rose in Victoria, Queensland, and SA, while it fell in NSW and WA.

‘Weekly inflation expectations’ rose 0.2ppt to 5.6%, while the four-week moving average remained at 5.5%.

‘Current financial conditions’ dropped 3.1pts, while ‘future financial conditions’ jumped 9.1pts after a 3.8pts fall the week before.

‘Current economic conditions’ were up 1.6pts and ‘future economic conditions’ fell 0.5pts.

The ‘time to buy a major household item’ subindex plunged 8.7pts, more than reversing the 7.1pts gain from the previous week.