NAB plans customer migration to NextGen platform

The bank will migrate 4 million customers over to its NextGen platform during 2014-16
NAB plans customer migration to NextGen platform

National Australia Bank (NAB) has announced that 4 million customers will be migrated to its NextGen core banking platform over the next three years.

The banking platform is part of a 10-year business transformation initiative to modernise the bank's IT systems.

NAB's enterprise services & transformation group executive, Lisa Gray, told media on a conference call that from early 2015, customers will be able to open an NAB-branded personal account on the NextGen platform.

“In parallel, we have been rationalising our product range. We will then progressively look at how we put business products onto the NextGen platform,” she said.

“The third thing we are looking at is customer migration. The plan is to migrate 4 million customers to the new platform over the next two to three years.”

UBank USaver Ultra was the first transaction account launched on the NextGen platform in 2013. It can be applied for and verified without human interaction.

An internal systems engine called 'Know Your Customer' checks passport, driver licenses and other types of identification via an automatic database.

UBank is a subsidiary of NAB. According to the bank, existing USaver customers can apply for the account within one minute.

Gray added that many of the learnings from UBank will be used across its NAB range of products and services.

“Early next year [2014] we will release another set of direct banking capabilities on the NextGen platform,” she said.

However, NAB did not have any further details on the capabilities.

In related news, the bank has appointed former Ernst & Young partner David Boyle as its new CIO. He replaces David McGee, who resigned in August 2013.

Follow Hamish Barwick on Twitter: @HamishBarwick

Follow CIO Australia on Twitter and Like us on Facebook… Twitter: @CIO_Australia, Facebook: CIO Australia, or take part in the CIO conversation on LinkedIn: CIO Australia

Join the Computerworld Australia group on Linkedin. The group is open to IT Directors, IT Managers, Infrastructure Managers, Network Managers, Security Managers, Communications Managers.

More about: Ernst & Young, Ernst & Young, Facebook, NAB, National Australia Bank, NextGen
References show all
Comments are now closed.
Related Coverage
Related Whitepapers
Latest Stories
Community Comments
Tags: core banking modernisation, Lisa Gray, National Australia Bank Ltd (NAB)
Whitepapers
All whitepapers

Queensland Police arrest man for allegedly hacking US gaming developer site

READ THIS ARTICLE
DO NOT SHOW THIS BOX AGAIN [ x ]
Sign up now to get free exclusive access to reports, research and invitation only events.

Computerworld newsletter

Join the most dedicated community for IT managers, leaders and professionals in Australia