4/3/2023 0 Comments Tictoc log in“It is pleasing to note its expansion continues, attracting investments from IAG Firemark ventures to provide insurance within the platform," Baker said. Its Qantas Money Home Loan, which only launched this February on the tic:toc platform, also showed the “benefits of our investments in digital”, according to Baker.īaker added its partnership with mortgage lender tic:toc resulted in a loan portfolio of $2.9 billion at the end of last year. In addition, Bendigo and Adelaide Bank’s own digital home loan offering, BEN Express, powered by home loan approvals platform tic:toc, “has delivered a milestone of its own and has now settled more than $100 million in lending.” In line with the bank's ongoing transformation journey, Baker said digital investment continues with Up reaching a “significant milestone for our digital assets” as customer levels hit 613,000, with a total of $1.3 billion in deposits.īaker said Up’s digital home loan platform Up Home, which was “soft launched early in the half”, showed “significant promise". In addition, ,ore APIs are being reused, and the bank has “continued to grow the number of customers utilising our digital channels."īendigo and Adelaide Bank’s "digital investment continues" The bank said it also improved customer analytics capabilities using the Google Analytics AI platform.īaker also said the bank now has “fewer IT applications overall and has moved more of those that remain to the cloud”. “While the collateral management system will provide a single centralized source of truth for the group, simplifying frontline processes.” “The product and pricing engine will significantly hollow out our core banking system and is a key enabler to further product simplification and much faster product development for our customers," Baker said. In addition to its Delphi Bank and PayTo implementation, Baker said over the half, the bank “delivered a new cloud-based product and pricing engine and a new collateral management system.” “Although our transformation program has been delivering for some time, we are beginning to see larger shift towards our financial year 2024 targets and our path to becoming a bigger better, stronger and more efficient bank is clear." “Our transformation program is on track with the foundational work we have completed paving the way for an acceleration in our progress,” said Baker. The bank also saw growth in customer numbers, partly driven by its digital proposition with neobank Up, which the bank acquired through its 2021 acquisition of fintech, Ferocia. “Through the first half 2022-2023 we reached some key milestones with the launch of our digital home loan, Up Home, the full integration of Delphi Bank and the delivery of PayTo to our banking customers," Baker said.
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