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Key facts
- ANZ New Zealand will be the first bank outside the U.S. to utilize FIS' Modern Banking Platform deployed on Microsoft Azure.
- Once completed, the bank will leverage cloud-based technology for core modernization.
ANZ Bank New Zealand Ltd (ANZ New Zealand) has selected financial technology leader FIS ® (NYSE: FIS) to modernize its core banking capabilities.
ANZ New Zealand will be the first bank outside the U.S. to utilize FIS' Modern Banking Platform , which is deployed on Microsoft Azure. FIS' Modern Banking Platform enables convenient, frictionless digital banking services through a cloud-native architecture. The platform is a highly secure core banking solution that uses extensive measures to protect data, and features the latest advancements in cloud security, monitoring and resiliency from Azure.
Ninety-one percent of financial institutions are using cloud services today or planning to soon according to the Cloud Security Alliance 1 . Yet traditional brick and mortar banks have been slower to move the core of their operations, core banking capabilities, into the cloud.
Cloud-enabled, componentized, open and highly-secure FIS Modern Banking Platform is designed with API-first functionality that puts financial institutions in control of their customer experiences. The solution's plug-and-play components enable institutions to build the retail and commercial capabilities needed today with the speed needed to innovate into the future.
"Banks need modern systems to meet growing expectations for personalized products and services, and strengthen the customer experience," said Andrew Beatty, Head of Enterprise Banking at FIS. "Cloud-based systems have quickly moved from a competitive advantage to the baseline of what makes a successful bank. Cloud-based core banking will enable banks to increase their speed to market and become more agile. We believe ANZ New Zealand is just the beginning of a huge industry trend to drive digital transformation through the cloud."
"Upgrading our core banking technology into a cloud-based platform 2 means we can continue to deliver reliable, efficient and secure services for our customers," said Mike Bullock, Chief Information Officer at ANZ New Zealand. "Our current core banking system is very robust and up-to-date but, like most platforms used by banks around the world, it is based on technology developed decades ago. This work sits within our current five year investment plan and will allow us to be more innovative in how we deliver banking services."
"We're honored to be a part of ANZ New Zealand's cloud journey, together with FIS, to help modernize their core banking infrastructure," said Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft. "Running on Microsoft Azure, FIS Modern Banking Platform delivers a flexible, data-driven solution to deepen customer relationships and roll out new products more quickly, while managing risk effectively."
ANZ New Zealand's current Systematics core banking technology is also supplied by FIS.
FIS' Modern Banking Platform is now available across the world in the U.K., Thailand and New Zealand, following its recent integration with Azure .
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1 Cloud Usage in the Financial Sector
2 Before ANZ New Zealand can move to a cloud-based core banking system, non-objection will be required from the Australian Prudential Regulation Authority (APRA). Regular engagement will also take place with the Reserve Bank of New Zealand (RBNZ) and the Financial Markets Authority (FMA).
FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across any industry globally. We enable the movement of commerce by unlocking the financial technology that powers the world's economy. Our employees are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, system performance and flexible architecture. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500 ® and the Standard & Poor's 500 ® Index. To learn more, visit www.FISglobal.com . Follow FIS on Facebook , LinkedIn and Twitter ( @FISglobal ).
View source version on businesswire.com: https://www.businesswire.com/news/home/20220809005687/en/
Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications
kim.snider@fisglobal.com
