Bendigo Bank completes consolidation of core banking systems

Bendigo Bank has reached its target of one core banking system, supporting improved productivity and the delivery of a streamlined banking experience for its 2.9 million customers.

The successful migration of more than 180,000 Adelaide Bank customer accounts to the Bendigo Bank platform last week marks the final stage of a six-year simplification project, Bendigo Bank CEO Richard Fennell said.

"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," Mr Fennell 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."

"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 conclusion of the simplification project builds on other recent initiatives aimed at delivering improved customer experiences, including the:

• Nationwide branch rollout of the Bendigo Lending Platform: Streamlining lending processes and fast tracking decision times.
• Expanded Google Cloud partnership: Leveraging AI capabilities, advanced digital skills for our people, and robust cybersecurity.

"Our customers are at the heart of everything we do at Bendigo Bank," Mr 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 there has been a reduction from 13 brands to just two main customer facing brands, Bendigo Bank and Up.