CUA transitions to new core banking platform

Credit Union Australia has ended more than two years of preparation work by introducing its new core banking system and accompanying online banking service over the weekend.

CUA downed services for around two days from Friday in order to implement its new BaNCS-based core banking system and online and mobile banking platform. Both were delivered by Tata Consultancy Services.

The online platform was initially expected to go live before the launch of the core banking system. CUA declined to provide details but said it had “successfully” implemented both systems in full over the weekend.

It is currently working to stabilise the systems and declined to comment further until such stabilisation is achieved.

CUA has spent the past two years shifting its over 400,000 customers off a 19-year old Abacus banking system and IBM mainframe in the $60 million project.

The online banking component, which was initially forecast for mid last year, allows end users to access deposits, loans and payments online and on mobile devices.

The bank has also recently wrapped up a Citrix virtualisation implementation in which it replaced 1000 desktops with Windows 7 thin clients, served from the new Tier III data centre housing its IT infrastructure assets.

CUA signed a deal with TCS to support the environment with BaNCS, despite TCS not normally offering that service.