AMP Bank has today announced the successful migration of its core banking platform to the cloud, significantly increasing the Bank’s agility, innovation, and customer experience.

The migration of AMP Bank’s core platform to the cloud, hosted on Amazon Web Services (AWS), will enable new levels of flexibility and scalability for AMP Bank to continue delivering retail banking products and services that meet the needs of its customers, mortgage brokers, and financial advisers.

The investment supports AMP’s strategy to grow its retail banking business and will help enable faster customer response times, including loan application approvals. Customers will also benefit from robust security, underpinned by a resilient and secure data solution that cloud technology offers.

AMP Bank’s early adoption of the cloud is part of a multi-year technology transformation strategy, demonstrating the Bank’s commitment to invest in digital and technology to bring forward improvements in the lending experience. AMP Bank’s transition to the cloud follows the modernisation of the Bank’s core system in 2020, which delivered a 35 per cent improvement in productivity.

A broader focus on cloud transformation at AMP is enabling a digitised and data-driven approach, creating benefits in agility, efficiency, and increased innovation. AMP’s cloud-only strategy is an important enabler in becoming a simpler, purpose-led, and customer-focused business.

Sean O’Malley, AMP Bank Group Executive said:

“We’re investing to grow AMP Bank by delivering products that meet the needs of our customers, brokers, and advisers, and by using technology to make it easier to bank with us.

“The transition of our core banking platform to the cloud provides us with a platform to grow our business and meet the increasing expectations customers have around digital sophistication in their interactions with their bank.

“The cloud also enables greater flexibility in the way AMP Bank interacts with the banking ecosystem, providing more opportunities for product and service innovation.

“AMP Bank is focused on delivering an exceptional customer service experience and helping Australians better manage their finances.”

Rianne van Veldhuizen, Managing Director Amazon Web Services, Australia and New Zealand, said:

“AMP Bank is driving innovation across its digital services and transforming customer experiences with AWS.

“We are proud to support the bank’s modernisation journey and congratulate them on successfully hosting and operating their business-critical applications in the cloud.”

_{The product issuer and credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517.}