Data Action (DA), a leading Australian provider of Digital and Core Banking solutions, has announced that it has signed a major strategic partnership with one of the largest mutual banks in the country, Greater Bank.
The partnership will see DA migrate Greater Bank from its legacy systems to DA's cloud-based Core Banking platform to enable the mutual bank to develop new offerings for its customers.
DA Chief Executive Officer Nicola Burgess said that the partnership will help ensure that Greater Bank is fully prepared for the open banking era and well positioned to capitalise on new and emerging opportunities.
"Open banking presents a golden opportunity for challengers by making it easier for customers to switch banks and take advantage of their better products and lower rates," she said. "Our solutions are tested in the Australian market, are compatible with the requirements of open banking and so will help Greater Bank strengthen its position as a leading challenger to the major banks."
Greater Bank is one of Australia's largest mutual banks, with over 260,000 customers in NSW and Queensland and more than $7 billion in assets.
"We are really pleased to have signed up such a significant player in the mutual space, it's a major endorsement of our credentials as a leading provider of modern and innovative Digital and Core Banking solutions," Ms Burgess said. "And having already successfully transitioned more than 80 customers from their legacy platforms to the DA Core Banking solution, we are fully confident that will be able to deliver a seamless migration for Greater Bank that will position them for the future."