Weaknesses of ANZ Bank
ANZ does not have very advanced and highly equipped technology and its base in order to provide convenient and high quality services to its customers.
There is a lot of competition that ANZ will face due to the existing and high quality service and products oriented competitors in the financial services.
It has entered into a new product that has to be positioned in the market so need to improve upon its existing technology base.
The bank does not have interests to be given to its personal account holders.
ANZ Bank has been operating in almost all parts of Australia. It has around 817 branches and 2600 ATM centers. This gives it an advantage to fight against the high level of competition that exists in the financial market. It even has advantage that as compared to its competitor’s bank charges low fees from its customers. ANZ has been providing the best quality services to its customers. It has various kinds of financial and banking products and services that could be given to the strong customer base (Cetorelli & Gambera, 2001).
The most important advantage is that ANZ has opened up its new target products for online banking services to the segment that have 2-3 accounts. These people will be interested as they would be looking for the best quality services. ANZ bank has various facilities in terms of the target segment that they look for in a technical and high class banking services. ANZ can easily take up the advantage for the capabilities, advantages and the strengths that it possesses over its competitors.