National Australia Bank has signed a multi- million dollar, long-term deal with Amazon Web Services to accelerate the migration of critical workloads to the cloud.
NAB began ramping up its cloud journey in 2018 and has now moved 70% of its applications to cloud. NAB recently became the first major Australian bank to move its business banking online platform to the cloud, migrated its Global FX & Trading Platform from Murex to the cloud, and collaborated with AWS and three other global banks to launch the Global Open Finance Challenge.
The new deal will see NAB adopting AWS Graviton processors designed to deliver the best price-to-performance for cloud workloads, which is expected to result in savings of over $1 million per month in cloud costs.
In July 2020, NAB also signed a five-year contract with Microsoft to co-design, develop and invest in the bank's multi-cloud strategy, porting 1000 of its 2600 apps to Azure as the primary cloud.
NAB group executive technology and enterprise operations, Patrick Wright, says: “The cloud is now ingrained at NAB. Our Simple Home Loans, internet banking, NAB Connect online business platform, and recently launched NAB Now Pay Later product are just some of our customer services being enabled by the cloud.
"The cloud is powering our ability to deliver new and improved services to market more quickly for our customers, with added reliability.”
Wright says the bank will soon complete the roll-out of Amazon Connect, AWS’s cloud contact centre offering, which will be delivered across all of the NAB's call centres. This uses artificial intelligence to match NAB customers to the most appropriate Australia-based contact centre team member. Once in place, customers will be able to call via a button within the Internet Banking app and be fully authenticated without having to go through a list of personal questions on the phone.
“We want to deliver more personalised experiences for customers, aligned to their preferences in how they want to interact with us,” says Wright.
Finextra has recently launched the inaugural Financial Cloud Summit, scheduled to take place on 2 March 2023. For more information and to register for this event, please visit the event page here.