Military Bank first in Australia to jump to cloud with Infosys
Australian Military Bank has gone live with Infosys’ Finacle solution, which is believed to be the first in the country to fully commit to a Software-as-a-Service (SaaS) cloud core banking system.
An Australian Military Bank’s senior exec says they were tasked with “managing the data migration and third-party integration with key business partners”.
The bank moved from a legacy Ultracs core banking system (provided by local vendor Ultradata) to Infosys’ system. The latter includes retail banking, retail loan origination, customer relationship management, internet banking, mobile banking and agency tablet banking.
The executive also says that the environment is PCI compliant and meets Australian Prudential Regulation Authority (APRA) requirements around cloud computing. It is also integrated with Cuscal for payment systems. The implementation of the system took six months.
The person in question also adds that the bank replaced its legacy MPLS network with a SD-WAN solution, which reduced the overall data networking costs and substantially increased each site’s bandwidth capabilities.
Australian Military Bank (formerly Australian Defence Credit Union) has been providing banking services to the Australian Defence Force since 1959. It has 30+ branches, 50,000+ customers and over AU$1 billion in total assets.