Business
‘Wildly exaggerated’: Why ANZ’s boss isn’t buying the buy now, pay later hype – Sydney Morning Herald
ANZ chief Shayne Elliott says digital disruption is massive, but don’t expect the bank to jump on the latest fintech craze for the sake of it.
That reflects the banks wider approach to disruption, an area in the spotlight after high-profile deals such as Commonwealth Banks investment in BNPL business Klarna and NABs planned purchase of neobank 86 400.
Elliott does not downplay the challenge or the high stakes of the competitive threat, and even admits the model of banks filling all manner of customers financial needs probably wont survive.
Apparently when you buy something and pay for it later, apparently thats not borrowing.
Shayne Elliott,…
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