The bank, Australia’s Defence financial institution with a membership made up chiefly by Defence personnel and their families, completed the switch to Finacle (a product subsidiary of Infosys) in February 2018.
The bank also wanted a cloud-based, SaaS model, so AMB has been able to roll out a slew of digital banking features such as budgeting tools and calculators, PIN change and card activation, real time alerts, international payments and NPP functionality.
The bank is now able to onboard new members and open accounts within minutes, it says, while a new origination (the process of creating a home loan or mortgage) system has improved the approval process.
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