June 24, 2024

Bendigo And Adelaide Bank – Achieving Customer Document Availability

Bendigo and Adelaide Bank is a large Australian bank with around 7,000 staff helping over 2.3 million customers. With a history stretching back to 1858, Bendigo Bank’s long-term purpose is to contribute to the prosperity of customers and communities. Today’s Bendigo and Adelaide Bank Group is the result of more than 80 mergers and acquisitions, each delivering opportunities and challenges – including the legacy systems that come with each transaction.

In 2021 the bank undertook a project to consolidate its document management systems — a project that was the foundation for a more extensive lending transformation across the bank. Consolidation meant the mammoth task of recovery fifteen million documents from many different systems. I recently spoke to Nathalie Moss, head of practice for lending technology at the bank, to hear how her team, with the support of a partner organisation, are doing. Infosysachieve success, going live in just eighteen months.

Documents stored by different people in different places for years

Anyone who has applied for a loan understands the large number of documents generated by that process. Incoming documents include acknowledgment and supporting evidence of collateral against the loan, and outgoing documents include various communications from the bank, such as, hopefully, an offer letter.

Bendigo and Adelaide Bank serves key customer segments through several brands, some of which operate on different systems and conventions, producing variable customer outcomes. To address this, it was necessary to consolidate the documents and associated metadata into one secure place with a standard structure to provide a consistent service to the customer.

Meanwhile, compatible outbound documentation for all brands was made using a standard schema. For example, the standard scheme of pasting the information into the letter would be in an offer letter, with a different skin depending on the brand.

The solution: Microsoft SharePoint Online

The bank was selected Microsoft SharePoint Online as its central document repository, mainly because it already had a relationship with Microsoft and used the on-premises version of SharePoint. Among other benefits, employees’ experience of Sharepoint shortened the learning curve of the new system.

SharePoint Online is a cloud-based service hosted on Microsoft servers. Primarily used for collaboration, file hosting and document and content management, SharePoint is highly configurable. SharePoint Online operates with shared tenancy, sometimes impacting performance if multiple users hit the system hard.

The bank implemented SharePoint Online along with Amazon Web Services (AWS) microservices for orchestration and Google Cloud for data warehouse. APIs for uploads, downloads and feeds to other systems were written in microservices on AWS.

With SharePoint Online, bankers can access and modify content and documents in real time. Infosys used Microsoft SharePoint framework to build a custom front end to easily access SharePoint Online content libraries, including file drag and drop and filtering and searching for metadata, banker name and document name.

The cloud-based platform enables the bank to define security groups and manage permission levels for auditing and compliance. Due to the amount of customer data and the types of data stored, Infosys implemented a number of additional controls to mitigate the opportunity and impact of any potential breaches and to significantly increase the privacy and security posture of the document store.

Infosys also enabled multiple entry points and worked with the business to create appropriate collections and role-based access controls, reducing the breadth of employee searches and making documents more accessible, enabling a unified, library-wide approach to data points.

The results? SharePoint Online has improved efficiency, reduced document duplication, enhanced security and improved regulatory compliance, and allows the bank to retire legacy systems. The new system has lost accidental, misfiling, version splitting and momentum that would previously have been lost if a customer banker was out of work.

For the bank, the critical advantage was availability. Staff can now serve customers faster and easier thanks to centralized document storage and a common searchable approach – resulting in happier customers.

The implementing partner: Infosys

Moss had previously worked with Infosys, so there was already a certain level of trust in place. Infosys still had to overcome stiff competition to win the bank’s business. The bank chose Infosys because of its extensive experience working with Microsoft SharePoint and the Infosys Cobalt cloud ecosystem.

During the implementation of the project, Infosys was able to benefit from its breadth and depth of expertise. The bank’s partnership with Infosys involved people directly assigned to the project and a group of Infosys professionals behind the scenes who had the knowledge base to solve similar problems for other customers.

Wrap up

Moss spoke of the challenge of finding documents that had been stored by “different people in different places for many years” and getting stakeholder consensus on stovepipe systems rejecting one standard approach across the enterprise.

Moss advised not only to enter new documents into the new system but to formulate a complete plan to transfer existing documents and decommission legacy systems. Aside from the obvious financial benefit of eliminating outdated approaches, this kind of visible progress can energize the team and keep sponsors motivated.

For Bendigo and Adelaide Bank, Moss went live with the new system in eighteen months, after which the team maintained monthly system migrations – delivering a huge win for the group every month.

Moor Insights & Strategy provides paid services to technology companies like all research and technology industry analyst firms. These services include research, analysis, consulting, consulting, benchmarking, acquisition matching, and video and speech sponsorships. The company has had or currently has paid business relationships with 8×8, Accenture, A10 Networks, Advanced Micro Devices, Amazon, Amazon Web Services, Ambient Scientific, Ampere Computing, Anuta Networks, Applied Brain Research, Applied Micro, Apstra, Arm, Aruba Networks (now HPE), Atom Computing, AT&T, Aura, Automation Anywhere, AWS, A-10 Strategies, Bitfusion, Blaize, Box, Broadcom, C3.AI, Calix, Cadence Systems, Campfire, Cisco Systems, Clear Software, Cloudera . Huawei Technologies, HYCU, IBM, Infinidat, Infoblox, Infosys, Inseego, IonQ, IonVR, Inseego, Infosys, Infiot, Intel, Interdigital, Jabil Circuit, Juniper Networks, Keysight, Konica Minolta, Lattice Semiconductor, Lenovo, Linux Foundation, Lightbits Labs, LogicMonitor, LoRa Alliance, Luminar, MapBox, Marvell Technology, Mavenir, Marseille Inc, Mayfair Equity, Meraki (Cisco), Merck KGaA, Mesophere, Micron Technology, Microsoft, MiTEL, Mo jo Networks, MongoDB, Multefire Alliance, National Instruments, Neat, NetApp, Nightwatch, NOKIA, Nortek, Novumind, NVIDIA, Nutanix, Nuvia (now Qualcomm), NXP, onsemi, ONUG, OpenStack Foundation, Oracle, Palo Alto Networks, Panasas, Peraso, Pexip, Pixelworks, Plume Design, PlusAI, Poly (formerly Plantronics), Portworx, Pure Storage, Qualcomm, Quantinuum, Rackspace, Rambus, Rayvolt E-Bikes, Red Hat, Renesas, Residio, Samsung Electronics, Samsung Semi, SAP, SAS, Scale Computing, Schneider Electric, SiFive, Silver Peak (now Aruba-HPE), SkyWorks, SONY Optical Storage, Splunk, Springpath (now Cisco), Spirent, Splunk, Sprint (now T-Mobile), Stratus Technologies, Symantec, Synaptics, Syniverse, Synopsys, Tanium, Telesign, TE Connectivity, TensTorrent, Tobii Technology, Teradata, T-Mobile, Treasure Data, Twitter, Unity Technologies, UiPath, Verizon Communications, VAST Data, Ventana Micro Systems, Vidyo, VMware, Wave Computing, Wellsmith, Xilinx, Zayo, Zebra, Zededa, Zendesk, Zoho, Zoom, and Zscaler. Moor Insights & Strategy founder, CEO, and Principal Analyst Patrick Moorhead is an investor in dMY Technology Group Inc. VI, Fivestone Partners, Frore Systems, Groq, MemryX, Movandi, and Ventana Micro., MemryX, Movandi, and Ventana Micro.

Leave a Reply

Your email address will not be published. Required fields are marked *