ANZ New Zealand to move to FIS Modern Banking Platform

Rhea-AI Summary

ANZ New Zealand has partnered with FIS to implement its Modern Banking Platform on Microsoft Azure, marking the first deployment outside the U.S.. This cloud-based solution will modernize core banking capabilities, enhancing security and customer service. With 91% of financial institutions embracing cloud services, FIS aims to help ANZ innovate and speed up its banking services. Upgrading technology is part of ANZ's five-year investment plan, ensuring continued delivery of reliable services, pending regulatory approval.

Positive

• ANZ New Zealand to be the first bank outside the U.S. to use FIS' Modern Banking Platform.
• The cloud-based technology enhances security and customer service capabilities.
• Part of a five-year investment plan for core banking modernization.

Negative

• ANZ requires non-objection from the Australian Prudential Regulation Authority before transitioning.
• Traditional banks have been slow to adopt cloud core banking solutions.

Key facts

• ANZ New Zealand will be the first bank outside the U.S. to utilize FIS’ Modern Banking Platform deployed on Microsoft Azure.
• Once completed, the bank will leverage cloud-based technology for core modernization.

JACKSONVILLE, Fla.--(BUSINESS WIRE)--

ANZ Bank New Zealand Ltd (ANZ New Zealand) has selected financial technology leader FIS^® (NYSE: FIS) to modernize its core banking capabilities.

ANZ New Zealand will be the first bank outside the U.S. to utilize FIS’ Modern Banking Platform, which is deployed on Microsoft Azure. FIS’ Modern Banking Platform enables convenient, frictionless digital banking services through a cloud-native architecture. The platform is a highly secure core banking solution that uses extensive measures to protect data, and features the latest advancements in cloud security, monitoring and resiliency from Azure.

Ninety-one percent of financial institutions are using cloud services today or planning to soon according to the Cloud Security Alliance¹. Yet traditional brick and mortar banks have been slower to move the core of their operations, core banking capabilities, into the cloud.

Cloud-enabled, componentized, open and highly-secure – FIS Modern Banking Platform is designed with API-first functionality that puts financial institutions in control of their customer experiences. The solution’s plug-and-play components enable institutions to build the retail and commercial capabilities needed today with the speed needed to innovate into the future.

“Banks need modern systems to meet growing expectations for personalized products and services, and strengthen the customer experience,” said Andrew Beatty, Head of Enterprise Banking at FIS. “Cloud-based systems have quickly moved from a competitive advantage to the baseline of what makes a successful bank. Cloud-based core banking will enable banks to increase their speed to market and become more agile. We believe ANZ New Zealand is just the beginning of a huge industry trend to drive digital transformation through the cloud.”

“Upgrading our core banking technology into a cloud-based platform² means we can continue to deliver reliable, efficient and secure services for our customers,” said Mike Bullock, Chief Information Officer at ANZ New Zealand. “Our current core banking system is very robust and up-to-date but, like most platforms used by banks around the world, it is based on technology developed decades ago. This work sits within our current five year investment plan and will allow us to be more innovative in how we deliver banking services.”

“We’re honored to be a part of ANZ New Zealand’s cloud journey, together with FIS, to help modernize their core banking infrastructure,” said Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft. “Running on Microsoft Azure, FIS Modern Banking Platform delivers a flexible, data-driven solution to deepen customer relationships and roll out new products more quickly, while managing risk effectively.”

ANZ New Zealand’s current Systematics core banking technology is also supplied by FIS.

FIS’ Modern Banking Platform is now available across the world in the U.K., Thailand and New Zealand, following its recent integration with Azure.

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¹ Cloud Usage in the Financial Sector
² Before ANZ New Zealand can move to a cloud-based core banking system, non-objection will be required from the Australian Prudential Regulation Authority (APRA). Regular engagement will also take place with the Reserve Bank of New Zealand (RBNZ) and the Financial Markets Authority (FMA).

About FIS

FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across any industry globally. We enable the movement of commerce by unlocking the financial technology that powers the world’s economy. Our employees are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, system performance and flexible architecture. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500^® and the Standard & Poor’s 500^® Index. To learn more, visit www.FISglobal.com. Follow FIS on Facebook, LinkedIn and Twitter (@FISglobal).

View source version on businesswire.com: https://www.businesswire.com/news/home/20220809005687/en/

Kim Snider, 904.438.6278

Senior Vice President

FIS Global Marketing and Communications

kim.snider@fisglobal.com

Source: Fidelity National Information Services

FAQ

What is the significance of ANZ New Zealand adopting FIS' Modern Banking Platform?

ANZ New Zealand is the first bank outside the U.S. to implement FIS' Modern Banking Platform, enhancing its core banking capabilities.

Which technology is ANZ New Zealand utilizing for its banking services?

ANZ New Zealand is utilizing FIS' Modern Banking Platform deployed on Microsoft Azure.

What are the implications of this partnership for FIS stock performance?

The partnership signifies growth opportunities for FIS, potentially positively impacting its stock performance.

What is the current trend in cloud adoption among financial institutions?

According to the Cloud Security Alliance, 91% of financial institutions are currently using or planning to use cloud services.