Bendigo and Adelaide Bank has adopted IBM's cloud development platform in a bid to accelerate the development of new apps, improve its customer service, and give the bank a startup-like advantage.
According to the bank's executive for business enablement, Stella Thredgold, Bendigo and Adelaide Bank will use IBM's Bluemix platform to build, test, and deploy timely and cost effective customer-focused solutions.
"The way our customers engage with us and the service they need is changing, and fast," Thredgold said.
"IBM Cloud gives us the agility and security needed to better deliver innovative customer solutions across multiple platforms. It means we can operate with a startup mindset with our speed-to-market capability enhanced, and this will ultimately deliver the best outcome to our customers."
The bank said the capability of IBM's cloud environment was tested when it developed and deployed its mobile payment app, Redy, which uses a quick response code to allow customers to offer credits to community groups of their choice.
Earlier this year, Bendigo Bank launched a new online share trading platform Bendigo Invest Direct (BID), built in partnership with CMC Markets Stockbroking.
With the BID platform, the bank said in March that customers now had access to stock analytics, ASX unlisted managed funds, upcoming dividend distributions, live and historic company news, and live ASX announcements. There is also a mobile version of the platform, which the bank claims gives investors the ability to trade wherever and whenever.
The launch came after the bank reported during its half year 2016 financial results that technology investments it continued to make as part of its Base II Advanced Accreditation progressed well. It made enhancements to data, decision making processing, and risk and return measurements.
The Base II project was launched by the bank to improve the way it identifies and manages risk and services for customers through improved banking systems, business and risk management processes and practices, and operating a more capital efficient business.
Of the AU$445.9 million total operating expenses Bendigo reported for the six months, information technology costs accounted for AU$35.8 million, a 5.8 percent decrease from the previous corresponding period year when AU$38 million was spent.