The heads of ANZ and National Australia Bank have faced a joint committee into actions taken after the royal commission.

The committee includes federal politicians seeking to follow up on the findings of the royal commission and ensure the banks are responding effectively.

ANZ chief executive Shayne Elliott told the committee the banks’ governance structure and processes were to blame for issues revealed by the commission, rather than individual greed.

Committee Chair Tim Wilson tells Ross Greenwood the banks have to “answer to the people”.

“One of my concerns is that they just now see appearing before this committee as an appointment in the diary.”

Click PLAY below to hear the full interview