Bendigo Bank announces strategic partnerships

Bendigo Bank has announced the next phase of its Productivity Program to accelerate the Bank’s progress in delivering its Strategy to 2030.

Through two new strategic partnerships with global specialists, the Bank will access technology at scale to drive innovation, while simplifying business operations and processes:

• A seven-year technology service partnership with Infosys, which will significantly improve the Bank’s IT service delivery capability, and provide access to global capabilities, software engineering and AI talent to deliver greater capacity to innovate.
• A six-year business operations partnership with Genpact, which will bring deep expertise in process optimisation and data insights to drive greater productivity and stronger risk management across the Bank.

These partnerships will strengthen the Bank’s ability to meet the evolving needs of its 2.9 million customers, who will receive a smoother banking experience including faster onboarding and processing, and better support.

Bendigo Bank Chief Executive, Richard Fennell, said access to such significant global capability and expertise will accelerate the pace of change in the Bank.

“To continue to deliver on Bendigo Bank’s longstanding purpose to feed into the prosperity of customers and community, we must actively look for ways to innovate,” Mr Fennell said.

“By leveraging global expertise and becoming simpler and more efficient, we can reinvest in new technologies and capabilities.

“For our people, it will mean access to new tools, improved processes and an opportunity to learn new skills from global experts enabling them to focus on deepening relationships with customers and strengthening the hundreds of communities we serve,” he said.

The process and operational improvements expected to be delivered will lead to workforce changes that will impact people in the Bank’s technology teams and business operations areas.

“Decisions that impact our people are never easy. We acknowledge this will be a challenging time for our people and we are committed to leading these changes with compassion, care and respect,” Mr Fennell said.

Emphasising the importance of consultation with employees on roles and team structures, Mr Fennell said that the detailed design for all impacted areas is yet to be finalised.

“We will consult with our people impacted by these changes, and we are committed to ensuring the support they need is available. The health and wellbeing of the Bank’s people continue to be key considerations in the planning and implementation of these essential workplace changes,” Mr Fennell said.