Guidance through uncertain times

Australian businesses continue to face challenges, such as those experienced over the past 12 months by the retirement living and banking sectors. Comparisons between the two can be drawn, such as unpopularity with customers or criticism from the media. Both also face disruption, not just from new or emerging competitors, but from the changing expectations of customers.

In order to operate successfully, a business must retain and grow its social licence; be a responsible community member; and reflect community expectations.

The now 12 month old eight-point plan was an important step for the retirement living industry, and marks the progress of an industry unified in delivering higher standards and greater transparency. The Code of Conduct is a further step forward, with this reform establishing a platform to position people at the centre of decision making, therefore putting residents front and centre.

Banks face similar challenges rebuilding the trust that has been damaged for many customers. Over the past year, ANZ has established initiatives to help resolve issues for our customers and restore faith – such as building a simpler bank; making products fairer; supporting sustainable financing; and increasing overall transparency. ANZ’s purpose is to shape a world where people and communities thrive. 

We see strong signs that the retirement living sector is responding to customers’ changing expectations and building communities, with great outcomes for residents, employees and the community. Examples include the recent developments funded by ANZ, such as Aveo’s groundbreaking vertical Newstead retirement living community, or Greengate’s innovative St Patrick’s Green, or other changes, such as Lendlease’s alternative contracts. 

ANZ Health is a leading financier to the retirement sector, contributing in excess of $1bn of new capital over the past year.  We are proud of our proven track record in supporting the growth aspirations of our clients and are committed to building long-term relationships.

We have the specialist capabilities needed to guide you through the ever-changing financial and regulatory landscape of the retirement living sector. In particular, our national team of retirement living specialists has an in-depth understanding of the complexities and realities your industry faces. Together, we can help build environments where people and communities can thrive. 

This communication is published by Australia and New Zealand Banking Group Limited ABN 11 005 357 522 (“ANZ”) in Australia, holder of Australian Financial Services Licence Number 234527. The information contained in this communication is intended as general information only.

This article was provided by ANZ, a sponsor of the National Retirement Living Summit 2018.