ANZ launches one-stop banking and wealth app
ANZ Global Wealth has launched a mobile application that links its customers' banking, share trading, superannuation and insurance.The new app, called Grow by ANZ, is initially only available on iOS but the bank has plans to launch an Android version.The banking component of the app is ANZ goMoney and the investment part is ANZ's online broking business E*Trade.The superannuation component is ANZ's low cost super product, Smart Choice Super. The app will also locate other superannuation accounts and manage switches into Smart Choice.ANZ Global Wealth chief executive, Joyce Phillips, said future developments would include enhanced investing tools and access to "virtual advice".Phillips said the division had been through a significant transformation since it was formed two years ago.Smart Choice Super has signed 300,000 customers since it was launched 12 months ago.ANZ has formed a partnership with the European fund manager Vontobel to give its private bank customers access to a wider range of investment options.Earlier this year it sold ANZ Trustees and entered into a five-year agreement with the buyer, Equity Trustees, to provide philanthropic and retirement services.Phillips said ANZ's view was that it could not reach the scale it felt it needed to offer a top class trustee service.Last month the bank launched the Grow Centre, a wealth management shopfront providing seminars and other services.Phillips said the next project was to start "transforming" advice - making it simpler, more accessible and more affordable. Global Wealth will start a trial of the new service later this year. The fruits of that development will feed into Grow by ANZ.