Investment aimed at providing insights for SME customers
ANZ New Zealand has entered into an agreement to acquire data analytics company DOT Loves Data Limited, which trades as DOT Loves Data.
The proposed investment is designed to support ANZ’s long-term ambition to provide valuable data insights to its business customers. It will also boost growth and development in the Wellington-based company.
DOT Loves Data provides data solutions for New Zealand and international businesses, using a suite of proprietary analytics tools and real-time strategic insights to help its corporate and local government customers.
The deal will involve ANZ New Zealand working closely with the team at DOT Loves Data to further develop its suite of tools. ANZ said the investment was part of an ongoing effort to build partnerships with innovative local companies that could help its small and medium business customers grow.
ANZ New Zealand general manager of data and marketing Astrud Burgess (pictured above left) said using data to provide insights in this way for the good of local businesses and the community was an important part of why ANZ Group was making this investment.
“We see a huge opportunity to use data to make a positive difference and that’s the direction ANZ has been heading in recent years with the establishment of a 300- strong data team,” Burgess said.
“DOT Loves Data has created tools and dashboards that are smart, simple and beautiful. The team have an impressive track record of taking complex data sets, creating practical and actionable insights and supporting companies to become truly customer and data led.”
ANZ New Zealand managing director of business banking Lorraine Mapu (pictured above right) said customers increasingly saw the value that insights and benchmarking brought to the banking relationship.
“Modern banking is much more than lending people and businesses money, looking after their deposits and doing transactions. It is about providing insights to help people with their financial well-being, to start and grow their businesses and to assist New Zealand with its trade and capital flows around the region,” Mapu said.
“Our focus over many years has been to strengthen our proposition in these spaces so we can give people and businesses the data-driven insights they need to succeed. With DOT Loves Data, we’ll be able to take that to another level and offer many of our businesses customers these cutting-edge tools to help them with various aspects of their business including financial benchmarking and carbon reporting.”
DOT Loves Data CEO and founder Jason Wells said the company would continue to work directly with its existing customers.
“ANZ Group’s support will certainly help DOT Loves Data grow, but it also means we can work together to develop new and bespoke data tools and that’s an exciting prospect,” Wells said.
“At the right time and with the right analysis, data can be extremely useful for businesses. It can help them understand their customers, the market and any opportunities that arise.”
Earlier this month, ANZ launched its new Accessibility and Inclusion Plan, which sets out how the bank aims to drive and embed accessibility and inclusion across all aspects of its business, as well as its commitment to report annually on its accessibility and inclusion efforts.
Meanwhile, ANZ New Zealand’s Good Energy Home Loan has so far released more than $100 million in lending to nearly 2,500 Kiwi households, helping them make their home more energy efficient.
