SINGAPORE, Sept. 9, 2024 /PRNewswire/ -- Synpulse, a global management consulting firm and partner to major banks, is proud to announce the successful go-live of Judo Bank's new core banking platform, powered by Thought Machine, a banking technology company. This significant achievement, completed in just 12 months, saw the launch of three critical banking products at Judo Bank: business loans, home loans, and lines of credit.
Judo Bank, an Australia-based challenger bank for small and medium-sized businesses (SMEs), known for its innovative approach to banking and customer-centric services, embarked on this project to build a new core banking platform. With Synpulse as the delivery partner, Judo Bank was able to leverage the firm's deep expertise in banking transformation, technological integration, and cloud services, resulting in a seamless transition to the new platform.
In the first nine months, the new core banking platform was developed, and new-to-bank customer pilot commenced. Three months later, Judo Bank migrated existing customers to the platform enabling the bank to improve reliability, reduce cost of ownership and increase flexibility and speed in bringing new product features to market.
Synpulse played a pivotal role throughout the project's lifecycle, providing comprehensive support from the initial planning stages through to post go-live operations. Synpulse support extended to technical project management, core configuration, system integration, data migration, and rigorous system testing to ensure the platform's readiness. The project also utilised key solutions from AWS (Amazon Web Services), including AWS Lambda for serverless computing and Amazon S3 for scalable storage, enhancing the platform's performance and scalability.
Change management was another aspect of Synpulse's contribution, with the firm supporting the initiative through company wide impact assessments and training to ensure the seamless adoption of the new platform by Judo Bank's team.
Rahul Bansal, Partner and Global Head of Retail and SME Banking at Synpulse said: "We are thrilled to have partnered with Judo Bank on this transformative journey. The successful migration to a new core banking platform within such a tight timeframe is a testament to the strong collaboration between our teams and the power of innovative technologies from Thought Machine and AWS. This project also underscores Synpulse's commitment to ramping up our business in Australia as part of our broader expansion strategy in the APAC region. We look forward to continuing our work with Judo Bank as they set new standards in SME banking."
David Palmer, General Manager, Enterprise Scale at Judo Bank, added: "The launch of our new core banking platform is a landmark achievement for Judo Bank. This project has significantly enhanced our technological capabilities, enabling us to deliver better services to our customers. Synpulse has been an excellent partner to Judo, in a highly complex, fast paced program of work. Their dedication to the partnership and joint ownership is a key ingredient to the success of the program. We are excited about the future and the possibilities this new core banking platform brings to our business."
About Synpulse
Synpulse is a global professional services company and a valued partner of leading players in the financial services and related industries. We optimise the proximity to our clients and deep domain expertise to create sustainable value using technology as a business driver. Leveraging our strong network of over 100 ecosystem partners, we accompany our clients throughout their transformation journey – from strategy and development to implementation and management. With our tech powerhouse, Synpulse8, we collaborate with our clients to co-create digital experiences with innovative technologies and proprietary methods. Synpulse is powered by the passion and commitment of its more than 1200 employees, who come from over 30 countries.
Further information www.synpulse.com.
source: Synpulse
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