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Finance

UBank moves customers onto NAB core

National Australia Bank has taken a big step in its transformation, moving customers from its online UBank onto its new banking system.
Written by Suzanne Tindal, Contributor on

UBank has moved its 300,000 customers onto the National Australia Bank's (NAB) new Oracle core banking system.

The move will allow real-time fund transfer between UBank accounts, customisation of how users view the bank's website and the provision of features, such as calculators and fund trackers.

"Our work focuses on both what customers see and what they don't see, reducing complexity and creating more satisfied customers via innovation and better technology to support it," said Gavin Slater, NAB group executive of Group Business Services.

The adoption of the Oracle platform, which merges the back-end, core and customer facing website software layers, is part of NAB's core refresh strategy, which it announced in 2008. Early in the program, Ubank was moved onto a new Oracle deposit system.

NAB was a third of a way through the transformation, it said yesterday, which involved building new networks, datacentres and software, while shoring up security. It recently finished implementing a Virtual Contact Centre platform that consolidated nine physical, phone-based networks to a web-based virtualised system, which it said reduced wait times and operating costs by 30 per cent per annum.

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