Launch of New Banking Platform
The launch is a result of significant investment that the business has made in its people, products and processes over the last two years. It incorporates a new core banking system from Temenos, as well as a finance system from Technology One and a desktop management system upgrade. With this launch, Goldfields Money is moving to a more modern secure platform combining Temenos and other leading banking software service providers. The new platform is designed to enable greater volumes of credit applications and deposits through a cost-efficient and scalable system, enabling growth to be more rapid in an economically viable environment, and offers increased automation to decrease manual processing. Temenos' technology will improve the account opening process for all loans and deposit products, and enables origination for customers across Australia.
In conjunction with the launch of the new digital banking platform, Goldfields Money has also launched a new internet banking and mobile banking app. These enhancements ultimately make managing money on the go simpler, convenient and even more secure for a large number of customers who prefer to do their banking via the internet, on desktop or mobile phone applications.
In commenting on the transition, Goldfields Money CEO, Simon Lyons, said: "This is an important and exciting milestone for the Goldfields Money business. With an increasing volume of business moving online, we are well-positioned to offer our customers a leading edge banking experience. The ability to open deposit accounts in minutes and to accept loan applications 24/7 is a major step forward for our business."
"Whilst most systems are performing as expected, there has been some disruption to some of our customers and we apologise for this inconvenience. Goldfields Money has prided itself on exceptional customer service for over 35 years, and we continue to be available via phone, email or in-branch for any customer questions or requests. This platform will allow our customers to do their banking securely and conveniently online, on mobile or in person."
About Goldfields Money Ltd
Goldfields Money (ASX:GMY) is Australia's new revolutionary digital bank, distributing first class products through a largely branchless distribution network. A bank without the bank. This digital banking platform is built on the recently implemented mobile first, world class core banking system provided by Temenos and our proprietary mortgage distribution software "Loankit".
Goldfields is ASX listed (ASX:GMY) with two key divisions:
Banking (operates under "Goldfields Money" and "Better Choice" brands) - an APRA regulated bank that offers deposit and loan products that are funded either on-balance sheet or off-balance sheet through a range of third party lenders. Our deposits are all guaranteed by the Australian Government Deposit Guarantee for up to $250,000 per customer. We are the new approach to banking in Australia, we're honest, with transparent bank practices and a straightforward approach to you and your money. It's all yours, honestly.
Mortgage Aggregation (operates under "Finsure" and "Loankit" brands) - an ASIC regulated mortgage aggregation and software technology platform with over 1,475 loan writers as of 31 August 2018. Finsure puts brokers first and is a leader in the market in offering a diverse lending panel, flexible commission models, training, lead generation, proprietary SaaS and mortgage broker support services. Finsure was also recently named Aggregator of the Year for 2017 at the Australian Mortgage Awards.
Goldfields Money Ltd