Trends
Australian bank leverages MongoDB Atlas for tech transformation
OUR TAKE This is critical for financial institutions, which need to transform quickly and leverage advancements such as generative AI to best serve their customers. This enables the bank’s developers to innovate with greater agility and deploy highly available and high-performance application featur…
Headline
OUR TAKE This is critical for financial institutions, which need to transform quickly and leverage advancements such as generative AI to best serve their customers. This enables the bank’s developers to innovate with greater agility and deploy highly available and…
Context
OUR TAKE This is critical for financial institutions, which need to transform quickly and leverage advancements such as generative AI to best serve their customers. This enables the bank’s developers to innovate with greater agility and deploy highly available and high-performance application features faster, enhancing the end-user experience. –Revel Cheng, BTW reporter 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.
Evidence
Pending intelligence enrichment.
Analysis
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”. 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. 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. Also read: Blackberry warns of a $100M cyber threat to Mexican banks
Key Points
- Australia’s Bendigo and Adelaide Bank has teamed up with MongoDB to modernise its core banking technology.
- 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.
Actions
Pending intelligence enrichment.
