MyState moves to single core banking platform

Consolidates two core banking platforms

ASX-listed, Tasmania-based financial services group MyState has moved to a consolidated core banking system for both MyState Bank and The Rock.

MyState and The Rock – which is based in Rockhampton, Queensland – merged in December 2011. In September 2015 MyState Bank received regulatory approval to fully integrate the operations of the Queensland-based bank.

In 2013 MyState replaced its Fiserv ICBS core banking platform with Tata Consultancy Services’ BaNCS. Last year the group announced it had partnered with Australia-based Rubik for a program to digitally transform its banking services (Rubik was acquired by Switzerland’s Temenos earlier this year).

The digital transform program included an enhanced Internet banking platform and new mobile apps for MyState.

MyState can now conduct multi-brand banking on a single platform, the company said today.

“We are building a highly scalable modern and contemporary banking business,” MyState managing director and CEO Melos Sulichich said.

“Consolidation of our core banking platform is an important milestone that demonstrates we are delivering on our strategy to become a leading regional bank.”

Shifting from two core banking systems to one reduces risk and “providers a strong and simpler foundation for further innovation,” the CEO said.

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Tags core banking systemsMyStatecore banking platformFinancial Servicesbanks

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