ANZ Bank's Digital Transformation with Nintex Advanced Workflow
Technology Category
- Cybersecurity & Privacy - Security Compliance
Applicable Industries
- Finance & Insurance
- Retail
Applicable Functions
- Quality Assurance
Use Cases
- Leasing Finance Automation
- Machine to Machine Payments
The Customer
About The Customer
ANZ provides a range of banking and financial products and services to 10 million customers in 34 markets globally. With a workforce of 50,000 employees, ANZ is among the top four banks in Australia, the largest banking group in New Zealand and Pacific, and among the top 50 banks in the world. ANZ Bank needed to replace its manual processes for retail and institutional operations with a scalable, standardized solution that provided workflow transparency, electronic collaboration, and document storage to better serve its customers and meet international regulations.
The Challenge
ANZ Bank, one of the top 50 banks in the world and the fastest-growing bank in Indonesia, was facing a challenge with its rapidly increasing transaction volume. The bank's existing business processes and workflow were becoming overwhelmed. Like most banks in Indonesia, ANZ was manually handling document submission and verification. Customers filled out paper loan applications and supporting documents, then delivered them to bank branches by mail or courier. Branch officers traveled to the bank’s headquarters or used postal mail, email, and phone calls to submit loan documents for verification. Lost or inaccurate documents created more emails and phone calls. Additionally, ANZ had to adhere to strict verification and financial regulations, including the Foreign Accounts Compliance Act. This act requires that all banks outside the United States provide key information about U.S. clients, including citizenship validation, to the Internal Revenue Service–a complex yet crucial process.
The Solution
To streamline their business processes across day-to-day transactions and meet compliance requirements, ANZ chose Nintex partner Ebiz Cipta Solusi. The solution was to automate authentication, approval, and compliance processes based on existing Microsoft SharePoint and SQL Server installations, with the addition of Nintex Advanced Workflow and Modern Forms. With Nintex Advanced Workflow and Modern Forms for SharePoint, ANZ automated and streamlined multiple complex workflows across its operation. The bank uses Nintex to manage account services transactions for retail and institutional operations. Liabilities, wealth transactions, and mortgage loan transactions are now securely executed through Nintex, leveraging the security features of SharePoint to ensure data security. Customer requests are automatically routed to the right recipients, and custom collateral is automatically created for customers. Nintex also supports ANZ’s Know Your Customer (KYC) verification process and ATM service operations.
Operational Impact
Quantitative Benefit
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