AMP Names New Leader for Small Business Digital Division
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AMP Welcomes New Leader for Small Business Digital Division
AMP is taking a notable step into the realm of digital banking by appointing John Arnott, who previously worked with Woolworths’ data and digital subsidiary WooliesX, as the leader of its newly formed small business digital banking division. This personnel choice aligns with AMP’s strategy to improve its offerings for small business banking, with an official launch slated for early 2025.
Quick Overview
- AMP has hired John Arnott, formerly of WooliesX, to head its new small business digital banking division.
- The division will utilize the UK-based Starling Bank’s ‘Engine’ platform for its transactions, payments, and deposits.
- The launch of the division is anticipated for early 2025, targeting both small business and personal banking customers.
- Arnott brings extensive expertise in digital development, having been associated with WooliesX, Commonwealth Bank, Facebook, and ING.
- AMP is also enhancing its superannuation and investment sector with new recruits to promote digital innovation.
John Arnott at the Helm of AMP’s Small Business Digital Division
John Arnott will direct AMP’s new small business digital banking division, leveraging his vast experience from working at Woolworths’ WooliesX. In his role as Director of Small Business and Personal Banking, Arnott will guide the division’s efforts involving transactions, payments, and deposits. The division will harness the innovative ‘Engine’ platform from the UK-based Starling Bank, renowned for its advanced technology in the financial services arena.
Arnott conveyed his enthusiasm for the position, stating, “This division has the potential to deliver significant value to the success of both small businesses and personal banking clients.” The initiative aims to cater specifically to the needs of small enterprises by providing efficient, digitally-oriented banking solutions.
Bringing Rich Experience to the Position
Arnott’s appointment showcases AMP’s dedication to innovation and user-oriented banking services. He has previously spearheaded customer growth for e-commerce at WooliesX, where he played a vital role in fostering digital transformation. His diverse experience includes positions at Commonwealth Bank, Facebook, and ING, equipping him with a comprehensive viewpoint on digital banking and customer interaction.
Driven by Starling Bank’s ‘Engine’ Platform
The new digital banking division of AMP will be supported by Starling Bank’s ‘Engine’ platform, a state-of-the-art technology designed to meet contemporary banking challenges. Based in the UK, Starling Bank is recognized for its digital-first strategy and has been a trailblazer in delivering customized solutions for small firms.
This Engine platform will serve as the foundation for AMP’s small business banking services, ensuring smooth transaction processing, payment handling, and deposit operations. It is expected to equip small businesses with essential tools for effective financial management, emphasizing speed, security, and user-friendliness.
Anticipated Launch in Early 2025
As the division prepares for its debut in early 2025, AMP is establishing itself as a significant contributor to the digital banking field. The company intends to craft a banking experience that addresses the unique requirements of small businesses, providing tailored solutions that are frequently absent in traditional banking setups.
AMP Enhances Superannuation and Investment Division
Alongside its initiative in small business banking, AMP is also concentrating on its superannuation and investment sectors. The firm has recently made two strategic appointments—Julie Slapp and Cloe Reece—to spearhead design for customer solutions and drive innovation in these sectors.
These additions form part of AMP’s overarching strategy to elevate its digital services overall, guaranteeing that customers have access to advanced tools and services for managing their financial futures.
Conclusion
The appointment of John Arnott to lead AMP’s new small business digital banking division clearly demonstrates the company’s commitment to innovation and client-centered banking services. With a launch expected in early 2025 and powered by Starling Bank’s ‘Engine’ platform, AMP is set to provide small businesses with an agile and digitally-focused banking experience. The company is also strengthening its superannuation and investments division through key hires aimed at enhancing digital innovation.
Q: What is AMP’s new small business digital banking division?
A:
AMP’s new small business digital banking division is a specialized unit dedicated to delivering banking services including transactions, payments, and deposits specifically designed for small businesses. This division will utilize Starling Bank’s ‘Engine’ platform and is anticipated to launch in early 2025.
Q: Who is John Arnott, and what is his role?
A:
John Arnott has been appointed as the Director of Small Business and Personal Banking at AMP. He will oversee the new small business digital banking division, drawing on his extensive experience from WooliesX, Commonwealth Bank, Facebook, and ING.
Q: How will AMP’s small business banking division benefit small businesses?
A:
The division is designed to offer small businesses tailored banking services that prioritize efficiency, security, and usability. By leveraging the ‘Engine’ platform from Starling Bank, AMP plans to provide seamless transaction handling, payments, and deposit functionality, assisting businesses in managing their finances with greater ease.
Q: When will the small business digital banking division launch?
A:
The small business digital banking division is projected to launch in early 2025.
Q: What is Starling Bank’s ‘Engine’ platform?
A:
Starling Bank’s ‘Engine’ platform is a digital banking technology originating in the UK that is designed to facilitate modern financial transactions. It will act as the backbone for AMP’s small business digital banking services, delivering a streamlined and effective banking experience for business owners.
Q: How is AMP strengthening its superannuation and investments business?
A:
AMP has recently brought in new talent, including Julie Slapp and Cloe Reece, to enhance design processes for customer solutions and foster digital innovation in its superannuation and investments units. This is part of AMP’s larger strategy to elevate its digital offerings across various business areas.