Case Study: Australia New Zealand Banking Group (ANZ) achieves IFRS-16 compliance with SpearMC and PeopleSoft Lease Administration

ANZ achieves IFRS-16 compliance by end of 2019 with SpearMC

Australia New Zealand Banking Group (ANZ) faced the challenge of achieving compliance with new IFRS-16 guidelines for lease documentation while also addressing data integrity and multi-currency lease management issues across numerous countries. To meet this challenge, ANZ partnered with vendor SpearMC to implement a new PeopleSoft Lease Administration system.

SpearMC configured and deployed the PeopleSoft system in a phased roll-out, beginning with ANZ's largest markets. This solution successfully achieved full IFRS-16 compliance for the bank by the end of 2019. SpearMC’s implementation also provided ANZ with enhanced business intelligence, time-saving features, and improved reporting capabilities for more informed decision-making.

Australia New Zealand Banking Group (ANZ)