AMP Bank has today announced the successful migration of its core banking platform to the cloud, significantly increasing the Bank’s agility, innovation, and customer experience.
The migration of AMP Bank’s core platform to the cloud, hosted on Amazon Web Services (AWS), will enable new levels of flexibility and scalability for AMP Bank to continue delivering retail banking products and services that meet the needs of its customers, mortgage brokers, and financial advisers.
The investment supports AMP’s strategy to grow its retail banking business and will help enable faster customer response times, including loan application approvals. Customers will also benefit from robust security, underpinned by a resilient and secure data solution that cloud technology offers.
AMP Bank’s early adoption in the cloud is part a multi-year strategy for technology transformation. It demonstrates the Bank’s determination to invest in technology and digital to improve the customer experience. AMP Bank’s move to the cloud comes after the Bank modernized its core system in 2020 which resulted in a 35% improvement in productivity.
Sean O’Malley, AMP Bank Group Executive says we’re investing to grow AMP Bank by delivering products that meet the needs of our customers, brokers, and advisers, and by using technology to make it easier to bank with us.
“The transition of our core banking platform to the cloud provides us with a platform to grow our business and meet the increasing expectations customers have around digital sophistication in their interactions with their bank.”
“The cloud also enables greater flexibility in the way AMP Bank interacts with the banking ecosystem, providing more opportunities for product and service innovation.”
“AMP Bank is focused on delivering an exceptional customer service experience and helping Australians better manage their finances.” says O’Malley
Rianne van Veldhuizen, Managing Director Amazon Web Services, Australia and New Zealand, said AMP Bank is driving innovation across its digital services and transforming customer experiences with AWS.
“We are proud to support the bank’s modernisation journey and congratulate them on successfully hosting and operating their business-critical applications in the cloud.” says Veldhuizen
AMP’s cloud-focused approach to transformation is enabling a digitized and data-driven approach that creates agility, efficiency, and greater innovation. AMP’s cloud-only strategy plays a key role in enabling a simpler, more purpose-driven, and more customer-focused business.
