24 May 2015

UBank acts as test-bed for new NAB core platform

28 August 2012  |  7360 views  |  0 NAB logo

National Australia Bank's direct banking subsidiary UBank has migrated 300,000 customers to a new core banking platform developed for the parent bank by Oracle.

UBank customers can now customise their view of the online banking site and take advantage of a range of new features, such as calculators and funds trackers. The system also enables the real time processing of funds between UBank accounts and provides new back-end tools for staff through a tie-up with NAB's new virtual contact centre software.

NAB is a third of the way through a major technology refresh, upgrading and building new networks, data centres, and software. The process entails the decommissioning of 100 legacy applications and the development of a new banking platform using Oracle Financial Services Banking platform as the foundation.

At UBank, the upgrade involved the integrates of three software layers - back-end, core and customer-facing websites - using a software stack consisting of 500 individual Oracle applications.

Gavin Slater, NAB group executive, group business services, says: "The migration of UBank customers to NAB's new platform is an important milestone in our multi-year plan to create more choice for customers to bank wherever, whenever and however they want."

NAB competitor Commonwealth Bank is nearing the finishing straight of a four-year, $1.1 billion core banking modernisation programme based on SAP software. In its results statement earlier this month, the bank said the technology investment was yielding considerably productivity improvements, helping to grow profits in a downwards economy.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

15 August, 2012
24 July, 2012
30 April, 2012
02 March, 2012
29 February, 2012
21 February, 2012
16 February, 2012
10 February, 2012
28 October, 2011

Related company news

 
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Cash overtaken by non-cash payments in the...
6616 views comments | 48 tweets | 31 linkedin
MasterCard launches personal payments serv...
5825 views comments | 15 tweets | 27 linkedin
UK opts out of European online payments se...
5649 views comments | 18 tweets | 15 linkedin
US banks bid to crack down on 'card cracki...
5499 views comments | 8 tweets | 10 linkedin
Metro Bank to offer consumer loans via Zop...
4665 views comments | 29 tweets | 20 linkedin

Featured job

£90-110K Basic Circa £200-250K OTE NO CEILING
London

Find your next job