ANZ trusts Kurtosys to provide a fully automated, outsourced document production service for its OnePath, Optimix and ANZ brands
ANZ is one of the 10 most successful companies in Australia and is New Zealand’s no. 1 bank.
Location:
Headquarters in Melbourne, Australia. ANZ operate in more than 32 countries across the globe.
Customers:
More than 5.7m personal banking customers worldwide.
Assets:
Current assets of over AUD$476bn.
Kurtosys solutions used:
Results:
- 300 funds factsheets delivered within just 7 weeks.
- Supported revenue growth by allowing ANZ to focus on the delivery of higher value internal projects.
- Fully outsourced ongoing solution for factsheet production with no maintenance or production burden for ANZ.
- Superb standards of client information delivered for ANZ’s customers.
- OnePath now looking for Kurtosys to provide other reporting services across the group.
Key Success Factors:
- Creating a project team that could work ‘across’ the time zone differences to deliver round the clock progress.
- Kurtosys’ data management toolkit and pre-built report libraries meant that the project team could focus on issues unique to ANZ while the rest of the project progressed unhindered.
- Clear and concise brand guidelines and mutually understood deliverables.
- A joint project team committed to constant and clear communication is vital.
- Data, data, data – like any project of this type, the end results can only be as good as the quality of the underlying information.
"As part of improving the quality and timeliness of OnePath's investment reporting to our clients, we set stringent requirements to meet clients' expectations and OnePath's tight brand transition timetable. During the onboarding service, Kurtosys provided us with best practice guidelines for assembling data and content in a structured way that enabled a simple configuration of the service to meet OnePath's production needs. I am pleased to say this was achieved on time and we are now looking to Kurtosys to provide other reporting services across the group."
Stewart Brentnall, Chief Investment Officer at OnePath.
ANZ has a history dating back over 170 years and are committed to their strategy of becoming a ‘super regional bank’ which involves growing their presence in the Asia Pacific region to around 20% of earnings by 2012, whilst continuing to focus on existing business opportunities in Australia and New Zealand.
In line with this strategy, ANZ acquired ING’s shares in a wealth management joint venture the two banks had set up together. This meant ANZ needed to quickly assimilate the business and re-brand its suite of factsheets, and they asked Kurtosys to provide software and production support.
Working with Kurtosys not only realised significant cost savings vs. an in-house solution but meant that the project could be delivered in record time to support ANZ’s growth strategy.
Situation
For several years, ANZ had pursued a successful wealth management joint venture with ING. Once it took sole control, ANZ was keen to improve the quality and timeliness of investment reporting to clients, and had set stringent requirements in order to meet their clients’ expectations.
The re-branding exercise meant ANZ needed to completely update their fund factsheets within the overall brand transition timetable. As a result, the deadline for creating these complex documents was extremely tight.
Over 300 fund factsheets needed to be delivered in a uniform way that was on-brand, met compliance regulations and provided absolutely first rate customer information.
Given the IT demands of such a significant project, and the associated costs of undertaking it in-house, ANZ decided to look for an external supplier. Following a market review, ANZ recognised the enhanced service that a niche player could offer and Kurtosys were chosen to provide its FundSource solution.
Solution
Kurtosys deployed a multi-disciplinary project team which included project management support, a data specialist, a business analyst and a platform configurator.
Data specialists from both sides got straight to work ensuring that high quality data could be delivered in a consistent and ongoing way. Kurtosys’ client onboarding process meant that straightforward tasks progressed quickly in the background whilst the real attention was saved for anomalies and teething problems.
ANZ’s data was used to create 300 funds factsheets using Kurtosys’ FundSource solution. The factsheets are available for download by both advisors and end customers and have to combine high quality information with the very highest standards of presentation.
Thanks to a lot of hard work from both ANZ and Kurtosys, the teams tested every scenario in record time to create an end product that can be relied upon.
Examples
