In its latest upgrade to its information analytics platform National Australia Bank (NAB) has retired 37 legacy servers that supported its old credit risk engine, after launching a new analytics layer as part of its NextGen programme.
The servers housed the legacy SAS credit risk engine, SAS database, development and testing, and disaster recovery environments.
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The decommissioning has enhanced the scope of customer and transaction data passing through its processing systems which will enable it to comply by new and emerging regulatory requirements such as Basel III.
David Boyle, chief information officer of NAB, said, "NAB’s credit risk engine is now delivering enhanced risk weighted asset data quality to the bank and is part of a front-to-back NextGen solution, where front-end banking data will pass directly to the consolidated back-end financial, risk and analytics platform."
He added that phasing out the aging platform and the 37 servers will also reduce maintenance costs and power consumption.
Boyle further says that at a strategic level, the platform’s common data layer will help credit risk engine and associated finance and risk applications to have the same point of reference for data processing.
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By GlobalDataHe also said that the platform will offer operational benefits as the Credit Risk Engine will help assimilate and reflect the changes generated externally by Basel III and other regulatory imperatives, and will also offer material improvement in processing times.
NextGen is the bank’s project to offer a new digital-ready real-time core platform using the Oracle Banking Platform as a foundation.
