Past Financial institution, one in all Australia’s largest customer-owned banks, has made a number of strides in its digital transformation ambitions, revamping its digital expertise and introducing a number of new merchandise. Cognizant is serving because the financial institution’s digital transformation associate.
With branches and workplaces in New South Wales, South Australia, Western Australia, ACT and Victoria, Past Financial institution is one in all Australia’s bigger banks. Notably, the financial institution is a B Corp and owned by its prospects, which incorporates greater than 6,000 neighborhood organisations across the nation.
Past Financial institution’s digital transformation roadmap focuses on a number of key workstreams, together with cloud and API structure modernisation and an enterprise-wide Home windows 11 migration. These integrations might be designed to be versatile, scalable and safe expertise ecosystems that allow the introduction of latest merchandise with enhanced velocity to market, additional getting ready Past Financial institution for future progress.
Commenting on the collaboration with Cognizant, Stevie-Ann Dovico, Chief Info Officer of Past Financial institution, stated: “Our partnership with Cognizant is pivotal in advancing our digital transformation. Their experience permits us to modernise our IT infrastructure and improve safety, aligning with our values as a customer-owned financial institution.”
Working with Cognizant, Past Financial institution will modernise the financial institution’s IT infrastructure, set up a Safety Operations Centre (SOC), and strengthen vendor assurance frameworks to assist align with the Australian Prudential Regulation Authority (APRA) requirements. The engagement additionally has as its scope to automate processes, allow self-service and lengthen the worth of current licenses.
Cognizant will moreover assist develop a complete knowledge and knowledge administration technique for Past Financial institution. Leveraging AI, this technique goals to optimise structured knowledge from core banking techniques and organise unstructured knowledge from information administration sources for organisation-wide insights, enabling extra tailor-made companies for its prospects.
“These initiatives goal to reinforce operational resilience, streamline processes and enhance buyer expertise,” stated Dovico.
Rob Marchiori, Australia Nation Supervisor at Cognizant, said: “Past Financial institution is a lighthouse shopper for us within the customer-owned banking sector. By enhancing their digital capabilities, we are going to assist them present higher companies to their prospects and help paving the best way for a resilient banking mannequin that addresses present and future market calls for.”
