Digital Banking

Google Exec To Lead Aussie Bank's Digital Shakeup

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Google's Australia and New Zealand managing director, Maile Carnegie, was poached by ANZ Banking Group to act in its newly created group executive digital banking role starting in July, Reuters reported Tuesday (March 1).

ANZ Banking Group is recognized as the number four lender in Australia and is reportedly bringing Carnegie on board to help lead its continued push into digital technology and securing "strategic relationships" within the FinTech sector, ANZ said in a statement.

Carnegie’s duties will also include leading the development and delivery of a “superior digital experience” for all of ANZ’s 8 million customers, as well as spearheading digitally focused projects and innovation for the bank.

“We have a great digital foundation with applications such as GoMoney and FastPay and the recent redevelopment of anz.com. Maile’s appointment recognizes that digital is central to driving revenue growth and to successfully competing in a changing and disrupted environment, where technology and brand are key sources of differentiation,” ANZ CEO Shayne Elliott said in a press release.

“Part of Maile’s role will also be to shift our thinking and champion a group-wide innovation culture at ANZ based on developing and attracting service-focused, technology-literate, innovative and experimental people and teams. This includes being the sponsor of a new Digital Business Transformation Leadership Program created jointly by ANZ and the Massachusetts Institute of Technology.”

Competition across Australia’s banking landscape is heating up as financial institutions are strengthening their FinTech operations to keep up with smaller digital rivals. Data from KPMG estimates that nearly A$27 billion ($19.21 billion) was at risk from "digital disruptors" over a quarter of recent banking industry revenue, Reuters said.

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