ANZ Bank New Zealand Ltd (ANZ New Zealand) has selected financial technology leader FIS® (NYSE: FIS) to modernize its core banking capabilities.
ANZ New Zealand will be the first bank outside the United States to use FIS’ modern banking platform, which is deployed on Microsoft Azure. FIS’s modern banking platform enables convenient and seamless digital banking through a cloud-native architecture. The platform is a highly secure entry-level banking solution that uses extensive measures to protect data and features the latest advances in Azure cloud security, monitoring, and resiliency.
According to the Cloud Security Alliance, 91% of financial institutions use cloud services today or plan to do so soon.1. Yet traditional banks have been slower to move the heart of their operations, core banking capabilities, to the cloud.
Cloud-enabled, modular, open and highly secure – the modern FIS banking platform is built with API functionality that puts financial institutions in control of their customers’ experience. The solution’s plug-and-play components enable institutions to develop the retail and business capabilities needed today with the speed needed to innovate in the future.
“Banks need modern systems to meet growing expectations for personalized products and services and to enhance the customer experience,” said Andrew Beatty, Head of Corporate Banking at FIS. “Cloud-based systems have quickly moved from a competitive advantage to being the foundation of what makes a bank successful. Core cloud-based banking services will allow banks to get to market faster and to become more agile.We believe that ANZ New Zealand is just the start of a huge industry trend to drive digital transformation through the cloud.
“Upgrading our core banking technology to a cloud-based platform2 means we can continue to provide reliable, efficient and secure services to our customers,” said Mike Bullock, Chief Information Officer at ANZ New Zealand. “Our current core banking system is very robust and up-to-date but, like most platforms used by banks around the world, it is based on technology developed decades ago. current five-year investment and will enable us to be more innovative in the way we provide banking services.
“We are honored to be part of ANZ New Zealand’s cloud journey, together with FIS, to help modernize their core banking infrastructure,” said Bill Borden, vice president of global financial services at Microsoft. “Running on Microsoft Azure, FIS Modern Banking Platform offers a flexible, data-driven solution to deepen customer relationships and roll out new products faster, while effectively managing risk.”
ANZ New Zealand’s current Systematics core banking technology is also provided by FIS.
FIS’ modern banking platform is now available globally in the UK, Thailand and New Zealand, following its recent integration with Azure.
1 Use of the cloud in the financial sector
2 Before ANZ New Zealand can move to a cloud-based core banking system, a No Objection will be required from the Australian Prudential Regulation Authority (APRA). Regular contact will also take place with the Reserve Bank of New Zealand (RBNZ) and the Financial Markets Authority (FMA).
FIS is a leading provider of technology solutions for financial institutions and enterprises of all sizes and in all industries globally. We enable the movement of commerce by unleashing the financial technology that powers the global economy. Our people are dedicated to advancing the way the world pays, banks and invests through our proven innovation, system performance and flexible architecture. We help our customers use technology in innovative ways to solve critical business challenges and deliver superior experiences to their customers. Based in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index. To learn more, visit www.FISglobal.com. Follow FIS on Facebook, LinkedIn and Twitter (@FISglobal).