MICROCAPITAL BRIEF: Australia and New Zealand Banking Group (ANZ), Fiserv Extend Mobile Money Services to Papua New Guinea, Samoa, Solomon Islands, Vanuatu

Australia and New Zealand Banking Group Limited (ANZ), an Australia-based bank, and Fiserv, a US-based financial services technology provider, reportedly have partnered to provide mobile money services to people lacking access to traditional financial services in Papua New Guinea, Samoa, the Solomon Islands and Vanuatu. The partnership will allow ANZ customers to send money to family members, pay bills, purchase airtime top-ups and view account balances and account history through their mobile phones. Financial services will be provided by ANZ’s goMoney brand, a banking application for mobile phones, in conjunction with Fiserv’s Mobiliti Reach, a carrier-independent mobile financial services platform that can be used by banks in developing economies.

Fiserv-supported mobile financial services have been offered to ANZ customers in Australia and New Zealand since 2006.

As of year-end 2012, ANZ reported total assets of AUD 642 billion (USD 574 billion) and annual revenue of AUD 17.7 billion (USD 15.8 billion). As of 2012, as reported by the US-based investment research firm Morningstar, Fiserv had total assets of USD 8.50 billion and annual revenue of USD 4.48 billion.

By Adrija Vaiciulionis, Research Associate

About Australia and New Zealand Banking Group Limited (ANZ):
Australia and New Zealand Banking Group Limited (ANZ) is a publicly traded bank that was established in 1835 in the city of Melbourne, Australia. ANZ provides retail services, commercial banking and wealth management services. It has offices in Asia Pacific, Australia, Europe, New Zealand and the US. As of 2012, ANZ reported total assets of AUD 642 billion (USD 574 billion) and revenue of AUD 17.7 billion (USD 15.8 billion).

About Fiserv:
Established in 1984, Fiserv is a US-based global technology provider serving the financial services industry. The company provides services to banks, credit unions, investment management firms, leasing and finance companies, retailers, merchants and government agencies. As of 2012, as reported by the US-based investment research firm Morningstar, Fiserv had total assets of USD 8.50 billion and revenue of USD 4.48 billion.

Sources and Additional Resources:

Saajan, Raja. “ANZ Extends Mobile Financial Services to Unbanked and Underbanked with Fiserv,” Mobile Payments Insider, August, 2, 2013 http://www.mobilepaymentsinsider.com/2013/08/02/anz-extends-mobile-financial-services-to-unbanked-and-underbanked-with-fiserv/

MicroCapital article, September 21, 2010, “MICROCAPITAL BRIEF: Australia and New Zealand Banking group (ANZ Bank) to Start Microfinance Center in Fiji,”
https://www.microcapital.org/microcapital-brief-australia-and-new-zealand-banking-group-anz-bank-to-start-microfinance-center-in-fiji/

MicroCapital article, June 30, 2010, “MICROCAPITAL BRIEF: International Finance Corporation (IFC) and IFC Capitalization Fund Agree to Invest $140m in Bank South Pacific (BSP) of Papua New Guinea to Extend Financial Services in Pacific Islands,”
https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-and-ifc-capitalization-fund-agree-to-invest-140m-in-bank-south-pacific-bsp-of-papua-new-guinea-to-extend-financial-services-in-pacific-is/

MicroCapital article, September 12, 2011, “MICROCAPITAL BRIEF: ADB’s Pacific Private Sector Development Initiative (PSDI) Annual Report Covers Partnership with Microfinance Institutions (MFIs) in Papua New Guinea, Timor-Leste, Vanuatu,”
https://www.microcapital.org/microcapital-brief-adb%E2%80%99s-pacific-private-sector-development-initiative-psdi-annual-report-covers-partnership-with-microfinance-institutions-mfis-in-papua-new-guinea-timor-leste-vanuatu/

MicroCapital Universe Profile: Australia and New Zealand Banking Group Limited (ANZ)
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=ANZ+Bank

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