Australia and New Zealand Banking Group Limited ABN 11 005 357 522
For release: 11 February 2009
Facebook finance: saving just became social!
With research indicating that Australians aged 18-24 have the poorest financial smarts in the
country¹ ANZ has launched SmartyPig – a web-based bank account that uses social networking
applications to make saving money a fun, easy and social experience.
A big hit in the United States (US), SmartyPig is the first product of its kind in Australia and caters
for young, web-savvy customers looking for a simple, efficient and secure way to save.
Research shows that young consumers are comfortable with sharing more of their life 2 – including
their financial life - on-line. With SmartyPig, you can make your saving goals public, so that friends
and family can make financial contributions towards this goal.
SmartyPig also provides personalised widgets for Facebook or MySpace pages so that invited
friends can track their saving progress.
The key features of SmartyPig accounts include:
Accounts are set up to help customers save for a specific goal and track their progress,
providing electronic updates as they reach major milestones.
Family and friends can securely contribute to a savings goal through the SmartyPig website
or you can let people know about your goal by using popular social networking sites like
Facebook and MySpace.
In addition to a competitive interest rate, customers will receive value boosts from retail
partners as they reach savings goals.
ANZ General Manager Deposits Mandy Simpson said: “We know that social networking is a real
priority for young people, and we are excited to be the first bank in Australia to introduce a savings
product that speaks to customers in their own language and encourages them to save.”
Founder and CMO of SmartyPig, Jon Gaskell said: “Since launching in the U.S. in early 2008,
we’ve had extraordinary success with SmartyPig. It made sense to create a product that reflected
the way that young people behaved and tailor a banking product to suit their needs.”
For media enquiries contact:
Katherine Rellos
ANZ Media Relations Manager
Tel: 0403 269 362
Email: Katherine.rellos@anz.com
Lia Pacquola
Haystac
Tel: 03 8689 2215 or 0438 560 608
Email: l.pacquola@haystac.com.au
1
ANZ Survey of Adult Financial Literacy in Australia, summary report, October 2008
2
Roy Morgan Single Source Data, year ended September 2008, Number of 18-24 year olds visiting online
communities, messaging sites and number of 18-24 year olds completing banking transactions online.
Australia and New Zealand Banking Group Limited ABN 11 005 357 522
Notes to editors – Case Study
Student, Claire (23), says that setting financial goals is not a priority for young people.
Claire said: “I tend to spend the majority of my pay at the start of the month and then have nothing
left over to go towards things I really want, such as a new car, a laptop or an overseas trip."
“I’d like to go to Europe next year, and a structured savings plan helps me to chip away at this goal
without even realising it. Including a link on my Facebook page reminds my friends and family that
they can help me reach my goal sooner – and check in to see that I’m on track!” Claire said.
As SmartyPig customers reach their savings goals they can also receive “value boosts” of between
4% and 8% from a range of major retailers, including:
David Jones
Myer
Freedom
Harvey Norman
Virgin Blue holidays
Rebel Sport
Target
JB HiFi
Adairs
Bunnings Warehouse
BabyCo Direct
You should consider whether this product is appropriate for you. We recommend that you read the Terms
product offered by Australia and New Zealand Banking Group Limited (ANZ) ABN 11 005 357 522. ANZ is
trading as “SmartyPig”. "SmartyPig" is a Trademark of SmartyPig LLC, which is licensed to ANZ.
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