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MELBOURNE, July 31 (Xinhua) -- The Australia and New Zealand Banking Group (ANZ) must undergo a cultural change if it is to remain one of the region's largest banks, Chief Executive Officer (CEO) Shayne Elliott said on Monday.
In a manifesto delivered to all 50,000 of the bank's staff, Elliott conceded that the industry's reputation has been tarnished as community expectations of banks shift.
"As a business based on trust, we simply can't allow this situation to continue," Elliott, who took the reigns as CEO from Mike Smith at the beginning of 2016, said.
"It's a wake-up call that says our industry hasn't really changed for a long time. It's exciting for many but it's going to be scary for some."
He warned his workforce that the bank would undergo three major changes, technology would be adopted and developed enthusiastically, the bank's values would become key in strengthening customer relationships and the bank would become better balanced.
ANZ is one of the region's biggest banks with an operating profit of 4.7 billion U.S. dollars in 2016.
Elliott said speed and responsiveness in dealing with customers were crucial and that streamlined digital processes would assist in that area.
"Our customers want more from us and they want it be faster," he wrote.
"Even when we've digitized in the past, we haven't fundamentally changed the process, so the whole point of being agile is to re-imagine work and say, let's not have a sequential process, let's have right people in the right place with the right resources, tell them what the problem is and let them go and solve it quickly."
"It will feel very, very different. We will get better people, the people we have here will be more engaged and our customers will notice," he said.
"But I can promise it will be different, easier to navigate and get things done and more engaging, a bank where we all have the opportunity to learn, do a little better and thrive."
The "daughter" Arale, whose real name is Cui Yahan, and "father" Dong Li, an Olympic fencer, greet their fans at a celebrity event held in Shanghai on November 9. Photo: IC
A group of child protection activists have raised their concerns about a popular reality show in which a 23-year-old Olympic athlete and a 4-year-old girl who plays his daughter act like a "couple."
The fourth season of reality show "Dad, Where Are We Going?" which premiered on October 7 on Mango TV, the online division of Hunan TV, one of China's largest television stations, has been criticized for its "parent internship" feature in which celebrities spend two days with other people's children.
In previous seasons, the show only featured celebrity fathers spending time with their own children.
The show has been particularly criticized for the pairing of Olympic fencer Dong Li and his "daughter" Arale, whose real name is Cui Yahan, who some say have been overly intimate and have been mocked by Net users as being like a "couple."
Viewers objected to the pair sharing a bed, with Arale was only wearing a top and her underpants. Some have also expressed discomfort with Arale saying during the show that she would like to marry Dong while she grows up and Dong joking that Arale is his ideal girlfriend and he will wait for her to grow up.