ANZ Bank is reinforcing its commitment to the Pacific region by focusing on digital banking solutions to enhance financial inclusion and economic development. Operating in nine Pacific nations—Fiji, Samoa, Vanuatu, Cook Islands, Tonga, Solomon Islands, Kiribati, Timor-Leste, and Papua New Guinea—ANZ aims to overcome geographic challenges and provide accessible banking services to underserved communities.
In recent years, ANZ has prioritised the development of digital platforms tailored to the unique needs of Pacific customers. The ANZ Pacific App, available on iOS and Android devices, enables users to manage accounts, transfer funds, and pay bills securely from any location. This initiative has led to a significant increase in digital engagement; in 2020, there was a 124 per cent rise in active users of the ANZ Pacific App.
Recognising the importance of remittances, which constitute a substantial portion of household incomes in the Pacific, ANZ has integrated International Money Transfer (IMT) services into its digital platforms. This integration offers a cost-effective and secure method for sending money home, addressing the traditionally high costs associated with remittances in the region. In response to the COVID-19 pandemic, ANZ waived fees for online money transfers from Australia and New Zealand to the Pacific for six months starting in September 2020, resulting in a 71 per cent increase in transfer volume from Australia and a 127 per cent increase from New Zealand.
To further support digital banking adoption, ANZ removed several fees for retail customers across the Pacific in July 2022. These changes included eliminating fees for local EFTPOS payments, local transfers, bill payments via internet banking and the ANZ Pacific App, and the Visa Debit Card monthly fee. This initiative aims to encourage cashless transactions and make banking more affordable and accessible.
The Australian government has also played a role in maintaining ANZ’s presence in the Pacific. In November 2024, Treasurer Jim Chalmers announced that the government was in the final stages of negotiations with ANZ to secure its continued operations in the region. This agreement ensures that ANZ’s nine existing operations, from Fiji to the Cook Islands, maintain their services, highlighting the strategic importance of keeping Australian banks active in the Pacific.
ANZ’s commitment to digital banking in the Pacific is a strategic effort to enhance financial inclusion, stimulate economic growth, and provide reliable banking services across the region. By leveraging technology and collaborating with governmental initiatives, ANZ aims to overcome the geographic and infrastructural challenges inherent in the Pacific, ensuring that financial services are accessible to all.
