New Zealand Post Selects Bank Technology Suppliers
New Zealand Post has selected Datacom Systems Ltd and Ultradata Australia Pty Ltd as preferred suppliers for the core banking technology for its new bank, Alan Dempster from the banking project team said today.
Datacom will house and manage systems in its secure facilities while Ultradata will provide a license for use of its ‘Ultracs’ core banking software.
The selection completes a rigorous process that began with the issue of a Request For Information in July last year, followed by a Request For Proposal in February, and subsequent shortlisting of proposals in early May.
Datacom is the largest New Zealand-owned supplier of IT services and is already a preferred supplier to New Zealand Post.
Ultradata, based in Melbourne, provides banking systems to a wide range of financial services organisations, including three quarters of Australia’s building societies, and has served a number of New Zealand clients for many years.
Mr Dempster said Ultradata best met the new bank’s requirements for a sophisticated yet ‘value for money’ retail banking solution.
“As a start-up business, our requirements are for a customer focussed and scalable banking system that can grow with us as our customer base grows. Ultradata’s system does this, while providing all the delivery channels that customers expect from a modern, nationwide bank, without high start-up cost and with minimal customisation.
“With their wide experience of supplying financial solutions for New Zealand customers, they are well placed to understand our needs in this market.”
The core banking system will manage customer accounts and will support delivery channels such as ATM, EFTPOS, Internet, customer service centre, telephone banking, and the New Zealand Post retail branch network. It will also provide full back office support including Management Information Systems.
Ultradata’s ‘Ultracs’ core banking system runs on IBM e-Server, pSeries and RS-6000 platforms.
The core banking system will be implemented by December, prior to the launch of personal banking services throughout New Zealand Post’s retail network in the first quarter of 2002.