Bendigo Bank has completed the consolidation of its core banking systems, reaching its goal of operating on a single platform and laying the foundation for improved productivity and a more streamlined customer experience for its 2.9 million customers.
The bank finalised the migration of more than 180,000 Adelaide Bank customer accounts to the Bendigo Bank platform last week, marking the final step in a six-year simplification program. CEO Richard Fennell said the achievement represents a major operational milestone. “This is a significant milestone for Bendigo Bank, representing our last and largest core banking migration as we make the move from eight banking systems in 2019 down to just one,” he said. “Placing all of our 2.9 million customers on one core banking system ensures we can deliver a modern, secure and seamless experience across the bank.”
Fennell said the consolidation is central to Bendigo Bank’s strategy to operate more simply and efficiently. By reducing duplication of systems, products and processes, the bank expects to free up staff capacity and accelerate customer-facing improvements. “Our landmark core banking consolidation is one of the keys to operating simply and efficiently. By streamlining our products and processes, we are able to reduce the duplication of effort by our people and spend more time on delivering improved outcomes for our customers.”
The project complements several recent initiatives supporting the bank’s digital transformation, including the nationwide rollout of the Bendigo Lending Platform to speed lending decisions, and an expanded partnership with Google Cloud to leverage AI, strengthen cybersecurity and build advanced digital capabilities across the organisation.
“Our customers are at the heart of everything we do at Bendigo Bank,” Fennell said. “With a solid track record of innovation, we are pleased to continue uplifting the digital experience for our customers across the bank, as we work hard to meet their evolving preferences and expectations.”
Since 2019, Bendigo Bank has also simplified its brand structure, reducing 13 brands to two: Bendigo Bank and Up.
