AMB goes live digitally on Finacle cloud platform EdgeVerve Systems: Infosys
"Our Finacle cloud software has enabled AMB offer world-class banking experience on the digital platform, implemented on the software as a service (Saas) model in 10 months," said the city-based IT firm in a statement here.
As Australia's longest-serving defense financial institution, AMB has been serving its defense personnel and their families since 1959.
The Finacle solution has replaced the bank's legacy systems to keep pace with new technology developments and allow a speedy response to market demands.
"The solution also enables open application programming interfaces (APIs) that overcome limitations for the bank's ability to work with ecosystem partners," noted the statement.
The system has helped the bank make the origination process simpler and drive the creation of a pipeline of 61 million Australian dollars worth of loans during the first month of using the new software.
"The bank is able to onboard new members and open accounts, complete with transactions enabled, within minutes," added the statement.