Investor Presentaiton
CASE STUDY - HOW WE BANK
2 CREDIT CARD GAMBLING CONTROLS
REDUCING HARM TO POTENTIALLY VULNERABLE CUSTOMERS
Context:
In December 2018 we introduced a restriction on the use of credit cards for gambling transactions where the customer's card has been
utilised beyond 85% of the account credit limit. This change is aimed at reducing harm to potentially vulnerable customers who are
using ANZ credit cards for gambling, while minimising unintended consequences for the general population of card users.
We consulted with industry and community groups before implementing this measure.
A self-exclusion mechanism is also being developed where customers can 'opt out' of the ability to gamble on their credit cards by the
end of 2019.
These initiatives operate alongside our responsible lending policies which are aimed at ensuring credit is provided only to those who can
afford it.
In the first three months of this restriction, $17.39M of Real Time Authorisation transactions attempted by customers who had already
used 85% of their account limit were declined.
Outcome:
Increased protections for customers negatively impacted by their use of credit cards for gambling, while minimising unintended
consequences for the general population of card users.
Relevant ESG target:
Make our products fairer and better matched to our customers.
ANZ
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