For NAB and Oracle UBank has the capacity to act as the modern equivalent of the canary in the coal mine. Testing a new core banking system using 300,000 customers will help iron out any of the kinks in the system before it is deployed fully into the parent bank’s much larger and more visible customer base.
UBank, the NAB’s online-only brand, was initially set up on Oracle’s iFlex system back in 2009. Meanwhile NAB and Oracle have been developing a new core banking platform for the parent bank using Oracle’s Fusion software (with which iFlex is now integrated), and are now about a third of the way through the programme.
A major milestone announcement from Oracle is expected in September.
In a video on Oracle’s web site Alex Twigg, UBank general manager outlines the approach being taken for the UBank platform with the creation of a stack of software comprising more than 500 individual Oracle applications. According to a NAB spokesman; “"NAB has now launched an enhanced version of the original UBank platform.”
According to NAB the new UBank platform integrates the back end, core and customer facing computer systems. The real time benefits however will be corralled for UBank customers only for the time being, with interbank transfers still reliant on batch processing.
NAB is now a third of the way through its technology refresh which involves upgrading and building new networks, data centres, and software. A key focus for the bank us the replacement of 100 legacy applications with ten integrated systems which are expected to be deployed through an internal private cloud.
Besides Oracle the bank works with IBM which manages its infrastructure and data centres; Telstra on its network; and SAP on systems to manage human resources, procurement and finances.