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TheStreet Open House

FIS And New Zealand’s ANZ Complete Seamless Core Bank Migration

FIS™ (NYSE:FIS), the world’s largest provider of banking and payments technology, today announced the successful migration of ANZ New Zealand’s core bank system onto a single FIS core platform. This conversion project, one of the largest in the bank’s history, was completed without a single high-priority incident.

Tracing its roots more than 175 years, ANZ is a market leader in Australia and New Zealand, serving nearly 8 million customers worldwide. In 2003, ANZ acquired National Bank of New Zealand and has been running the two organisations on separate platforms since the acquisition. Under the terms of the acquisition, the bank was required to migrate away from the acquired brand and decided to consolidate onto the FIS platform in use within the National Bank of New Zealand. FIS was chosen due to the breadth of solutions offered, its focus on the local market and strong cultural fit with ANZ. Over the course of the migration weekend, AU$46 billion of funds were moved, along with nearly three million customer records accounting for current deposit accounts, credit card and loan accounts.

“We are delighted with the consolidation onto the FIS core platform,” said Craig Sims, COO of ANZ. “Given the scale and complexity of the project, to have completed it without any major incident is a significant achievement. FIS has worked with us as an integral part of our team. They understand our business and have an absolute focus on delivery.”

“The consolidation programme was a huge success,” said Richard Palmer, Managing Director for FIS, Australasia. “FIS offers the broadest solution set in the market and time and again has set the standard for core banking excellence around the world. ANZ’s selection of FIS as its core banking provider is a testament to our ability to deliver the combination of world-class capabilities, processing scale, power and reliability that will help the bank achieve its strategic operational and growth goals.”

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