As reported in August 2018, the bank chose SAP Cloud for Banking to underpin its application for a restricted banking licence from the Australian Prudential Regulation Authority (APRA) later in 2018. It also follows on from March 2018, when it launched its card and app.
Xinja says the solution comprises SAP S/4HANA Finance; SAP Banking (Loans and Deposits), SAP Payments Engine, running on SAP Cloud and managed by SAP Cloud Application Services.
The bank explains that the solution brings an API-driven architecture and means it’s prepared for the forthcoming Open Banking regulation.
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