Australia’s online-only lender ME Bank has deployed Temenos software to underpin its technology transformation project with the aim of "reducing operating costs, improving customer experience and speeding up the delivery of new products".

ME Bank’s transformation project includes core system replacement with Temenos T24, launching an anti-money laundering system with Temenos AML, and deploying a business analytics solution, Temenos Insight.

The project will be implemented in four phases and is scheduled to be completed by June 2015.

Kathryn Hawkins, chief information officer, ME Bank, said the bank’s transformation programme will enable the lender to service a growing customer base, offer innovative products and meet the changing needs of its customers.

"Supreme ease-of-use and efficient performance are key goals as we implement the multi-million dollar transformation of our technology platform," said Hawkins.

The new system will also enable "more self-service options, better stability and ultimately more products" as the lender will "have the capability to deliver these even faster", Hawkins added.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Temenos software will additionally support the bank’s aim to significantly increase customer numbers over the next three years.

ME Bank has adopted a ‘workplace banking’ approach, whereby mobilised bankers can conduct banking services onsite within members’ workplaces.

Hawkins said: "In years to come ME Bank staff will all be working on a state-of-the-art technology platform that positions us for future growth."

David Arnott, CEO, Temenos said: "ME Bank is challenging Australia’s traditional banking landscape, and its growth plans are underlined by a unique and compelling proposition for the Australian market."

ME Bank is the only Australian bank that is 100% owned by Australia’s industry super funds and with a ‘a fairer way to bank’ tagline, ME Bank proposes to be a "genuine alternative" to the major high street banks in Australia.