Commercial Bank Management: ANZ’S Model AnalysisExplanation Of The ANZ Business ModelANZ developed a new business model that is customer focused in its quest to support performance and growth of the bank. The model works in the three geographies where the bank operates; Australia, New Zealand and Asia Pacific. The model has a focus on two customer segments; both the retail and commercial segments. It is aimed at coordinating the entire businesses globally (ANZ Bank 2012). The model has responded to the ever changing financial services and the ANZ’s super strategies regionally. This has affected the model by the way of shifting of the model to larger business structures that are simple in nature and, which are aligned to suit the customers that they serve and the geography of the region from both the old stand-alone collections as well as customer-oriented business. The business model crested by the bank is aimed at creating a super regional bank.
It has simplified the bank by concentrating its entire structures into serving its customers and eliminating any of the management barriers that previously existed between the staff, the management and the customers of this bank. This model also enables functions that are progressively consolidated within the structures of the bank.
They might include technology and divisional operations that lies within the shared services of ANZ (ANZ Bank 2012). This, in its quest, has increased both the level of operations-scale and efficiency of the bank. Notably, the model has three board representatives that embody the geographical segments of the bank. These segments include; Australia, New Zealand and Asia Pacific sections, which are headed by a single Chief Executive Officer. In regards, each segment of the bank, through the model, has been divided into retail and commercial divisions retrospectively. Model SummaryThe model possesses a wealth division that needs to be created over time.
This division, which covers all the three geographical regions, is tasked with the management of higher worth individuals within the already set ripe markets. Consequently, the Australian segment has two substantial businesses, that is retail and commercial, which are relatively managed independently. They all report through the Bank head of Australia. The retail customers are considered to be the affluent customers since they are managed as local businesses. The New Zealand segment is managed as an integrated unit of the business.
This is because of its enormous size and the regulatory and competitive business environment. Asia Pacific businesses are managed under a product matrix both geographically and regionally and also, it has a strong link to the wholesale businesses. The commercial division, for all the segments, conducts all of the businesses both from the smaller and medium sized enterprises through small corporate that are managed locally. The entire group has a corporate centre that is tasked with functions of maintaining the group strategy as well as the setting of policies and the management of active performance.
This model has, also, been tasked with the responsibility of maintaining the overall governance of the IT section that includes ownership management, infrastructural management and the specific customer systems. Retrospectively, other key business functions have been placed in Bangalore and New Zealand. They include the IT, Finance and Human resources sections.