MAJOR AUSTRALIAN BANK

Launching a big four bank into a Fintech

Summary:

When one of Australia’s big four banks identified an opportunity within its customer base, they knew a partner was needed who was innovative, customer-centric, and could provide strong and intuitive leadership. To help them design and build a next generation, cloud-native digital platform, they choose Kablamo.

A thoroughly researched next-gen SME financial platform was launched into a closed pilot, with real customers and their banking data, within 12 months of kickoff. The bank acquired additional insights for building a strong, next generation SME financial platform.

TAGS

data design

machine learning

fintech

[.c-pullout-quote-wrapper][.c-pullout-quote]“To build a product people love to use, you have to design for them – not at them.” [.c-pullout-quote][.c-pullout-quote]Allan Waddell, co-CEO, Kablamo[.c-pullout-quote][.c-pullout-quote-wrapper]

[.c-richtext-text-wrapper][.c-richtext-text]A major Australian bank identified Small to Medium Enterprise (SME) as one of the least supported groups in its customer base. The bank recognised that to bring real value to its SMEs and grow its market share of this segment, it needed to create a powerful digital product specifically for their needs – and it needed to harness the power of data, machine learning and the cloud to do this.[.c-richtext-text][.c-richtext-text-wrapper]

[.c-richtext-title-80][.c-richtext-title]The new digital experience was designed to deliver new customer value via an intelligent data platform, using machine learning, and a great customer experience. [.c-richtext-title][.c-richtext-title-80]

[.c-richtext-text-wrapper][.c-richtext-text]While the bank had an innovation arm tasked with new product development as well as access to a vast amount of external and internal data, they soon recognised another need: The bank didn’t just want to improve the SME experience, it wanted to re-imagine it.  And they needed a partner to drive this world-first innovation.[.c-richtext-text][.c-richtext-text] By engaging Kablamo, they embarked on a research-based product development journey that would culminate in a next-generation SME financial cloud based platform.[.c-richtext-text][.c-richtext-text-wrapper]

[.c-richtext-title-60][.c-richtext-title]Results:[.c-richtext-title][.c-richtext-title-60]

[.c-richtext-text-wrapper][.c-richtext-text]A thoroughly researched next-gen SME financial platform was launched into a closed pilot, with real customers and their banking data, within 12 months of kickoff. The bank acquired additional insights for building a strong, next generation SME financial platform.[.c-richtext-text][.c-richtext-text] Many features could be added and built into the platform – Kablamo and the bank built an accounting solution that could couple with financing options, ASP integration, and invoice reminders and alerts.[.c-richtext-text][.c-richtext-text]Finally, Kablamo worked with the wider stakeholders in the bank to make this one of the first production workloads, including customer data, that was securely deployed in AWS. This marked another major step for the bank to become cloud-based, agile and future-ready.[.c-richtext-text][.c-richtext-text-wrapper]

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