Australia’s Bendigo and Adelaide Bank has teamed up with MongoDB to modernise its core banking technology. The bank is using the MongoDB Atlas multi-cloud developer data platform to accelerate customer-focused innovation.
According to the pair, the bank chose MongoDB Atlas as the underlying platform for its tech stack because of the high levels of security and reliability, its ability to manage the bank’s real-time operational data on a unified platform, and because of an “intuitive developer experience”.
In under three months, the bank modernised its Agent Delivery System, a legacy retail banking application, on MongoDB Atlas with the help of MongoDB’s Relational Migrator and generative AI-assisted modernisation tools.
The Agent Delivery System is a retail teller application for the bank’s agent branches, and is used in communities where digital banking functionality is made available from non-bank businesses, such as newsagents or pharmacies.
Prior to partnering with MongoDB, the bank, which has five million customers, ran the system on a legacy relational database. Because of these database-related challenges, the bank’s analysts and developers were committing significant effort to complex database management tasks in order to keep the application running.
Transformation journey
Andrew Cresp, chief information officer at Bendigo and Adelaide Bank, said: “This migration was an enormous step forward in our transformation journey and a perfect marriage of people smarts and tech smarts. It’s an investment in our customers.
“Now, our lean, highly skilled team can ask MongoDB Atlas and the generative AI tooling MongoDB’s Professional Services team built for us to do really smart things, leaving our developers free to focus on other ways they can deliver great outcomes for our customers.
“We’ve started by modernising our most critical applications, and next, we intend to tackle a number of other outdated legacy applications across the bank, putting us on track to meet our target of 50 per cent of our critical workloads in the cloud by the end of the year.”
Simon Eid, senior vice president, APAC at MongoDB, also commented: “It’s important that MongoDB empowers its customers to modernise with applications that are not just future ready, but future-defining. This is paramount for financial institutions, who need to transform quickly and take advantage of advancements like generative AI to best serve their customers.
“Applying the power of AI to Bendigo and Adelaide Bank’s migration process was game-changing. MongoDB looks forward to helping more customers quickly and easily ditch the rigid legacy technology that is slowing them down to achieve all the benefits a modern technology stack can bring to their businesses.”
The migration
MongoDB’s solutions enabled Bendigo and Adelaide Bank to complete the migration with 90 per cent less human effort and at one-tenth of the cost of a traditional legacy migration.
With this migration, Bendigo and Adelaide Bank has eliminated volumes of routine code writing and programming work with automated generative AI tooling, which has empowered the bank’s developers to innovate with increased agility and more quickly deploy highly-available and performant application features that enhance end-user experiences.
The post Australian Bank Leverages MongoDB Atlas for Major Tech Transformation appeared first on The Fintech Times.
