FIS and New Zealand's ANZ Complete Seamless Core Bank Migration
ANZ migrates nearly 3 million customer records onto FIS core platform
AU$46 billion (U.S. $48 billion) moved - equivalent to one-third of New Zealand's GDP
JACKSONVILLE, Fla. & SYDNEY--(BUSINESS WIRE)-- FIS™ (NYS: FIS) , the world's largest provider of banking and payments technology, today announced the successful migration of ANZ New Zealand's core bank system onto a single FIS core platform. This conversion project, one of the largest in the bank's history, was completed without a single high-priority incident.
Tracing its roots more than 175 years, ANZ is a market leader in Australia and New Zealand, serving nearly 8 million customers worldwide. In 2003, ANZ acquired National Bank of New Zealand and has been running the two organisations on separate platforms since the acquisition. Under the terms of the acquisition, the bank was required to migrate away from the acquired brand and decided to consolidate onto the FIS platform in use within the National Bank of New Zealand. FIS was chosen due to the breadth of solutions offered, its focus on the local market and strong cultural fit with ANZ. Over the course of the migration weekend, AU$46 billion of funds were moved, along with nearly three million customer records accounting for current deposit accounts, credit card and loan accounts.
"We are delighted with the consolidation onto the FIS core platform," said Craig Sims, COO of ANZ. "Given the scale and complexity of the project, to have completed it without any major incident is a significant achievement. FIS has worked with us as an integral part of our team. They understand our business and have an absolute focus on delivery."
"The consolidation programme was a huge success," said Richard Palmer, Managing Director for FIS, Australasia. "FIS offers the broadest solution set in the market and time and again has set the standard for core banking excellence around the world. ANZ's selection of FIS as its core banking provider is a testament to our ability to deliver the combination of world-class capabilities, processing scale, power and reliability that will help the bank achieve its strategic operational and growth goals."
FIS (NYS: FIS) is the world's largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 425 on the Fortune 500 and is a member of Standard & Poor's 500® Index. For more information about FIS, visit www.fisglobal.com.
Kim Snider, +1 904.438.6278
FIS Global Marketing and Communications
Mary Waggoner, +1 904.438.6282
Senior Vice President
FIS Investor Relations
Dominique King, +44 203 047 2301
KEYWORDS: Australia United States North America Australia/Oceania New Zealand Florida
The article FIS and New Zealand's ANZ Complete Seamless Core Bank Migration originally appeared on Fool.com.
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