NAB announces long-term cloud deal with AWS

- Advertisment -

NAB has inked a multimillion-dollar, long-term agreement with Amazon Web Services (AWS) to further its cloud-first technology strategy.

In a statement, NAB said a key component of its ambitious multi-cloud strategy, which has helped the company establish itself as a market leader in the move to the cloud, is the extended and expanded collaboration.

The current agreement between the two companies could allow NAB to speed up the shift of essential workloads to AWS. The renewed relationship also includes NAB embracing the most recent AWS innovations, such as AWS Graviton processors, which are designed to provide the best price-to-performance for cloud workloads, assisting NAB in improving efficiency and sustainability in the cloud.

Patrick Wright, NAB Group Executive Technology and Enterprise Operations, stated that NAB’s significant investment in the cloud and collaboration with AWS allows it to be more innovative, nimble, and cost-effective in delivering outstanding customer experiences.

“The cloud is now ingrained at NAB. Our Simple Home Loans, internet banking, NAB Connect online business platform, and recently launched NAB Now Pay Later product are just some of our customer services being enabled by the cloud,” Wright said.

According to Wright, the cloud enables NAB to bring new and better services to market faster and with greater reliability for its clients. He added that AWS’s efforts in highly secure and robust global infrastructure benefit NAB as well. In conjunction with NAB’s security efforts, Wright stated that NAB provides a highly secure environment to protect our customers and the bank.

In 2018, NAB began pushing its cloud plan and has now migrated 70 per cent of its apps to the cloud. NAB recently became the first major Australian bank to migrate its business banking online platform to the cloud, as well as transition its Global FX & Trading Platform (Murex) to the cloud and start the Global Open Finance Challenge with AWS and three other global banks.

“We’ve had a long and proud relationship with AWS dating back to 2013 and we are excited to extend this collaboration,” Wright said.

Wright stated that AWS is important to NAB’s technological strategy, allowing it to provide new and unique client experiences. He added that NAB would soon finish the rollout of Amazon Connect, AWS’s cloud contact centre product, across all of NAB Group’s call centres.

Amazon Connect is a user-friendly omnichannel cloud contact centre that enables organisations to provide better customer service at a cheaper cost. This AWS service employs artificial intelligence (AI) to pair NAB customers with the most relevant, highly skilled contact centre staff member headquartered in Australia. Amazon Connect is integrated into NAB’s digital internet banking experience, allowing users to call using a button within the Internet Banking app and be fully authorised without having to go through a series of personal questions over the phone.

According to Wright, NAB is benefiting from Amazon Connect’s stronger automation and AI capabilities, which allow the bank to run customer contact centres more effectively and create a more personalised experience for consumers.

“We want to deliver more personalised experiences for customers, aligned to their preferences in how they want to interact with us,” Wright said.

NAB has just reduced the cost of its cloud-based infrastructure. NAB established a program to save approximately $1 million per month in cloud costs by utilising AWS services and products, including AWS Graviton, establishing a company culture centred on efficiency and innovation for customers.

Rianne Van Veldhuizen, AWS Managing Director in Australia and New Zealand, stated that AWS was thrilled to play a significant part in helping NAB’s mission to create innovative and intuitive digital experiences for consumers.

“Cloud is one of the defining technologies of the financial services industry and AWS is helping banking leaders like NAB drive innovation and business growth. One of the key benefits of NAB’s transformation is the ability for the bank to become data-driven, which allows their data scientists, engineers, marketers, and other roles to make better-informed decisions, faster,” Van Veldhuizen said.

Van Veldhuizen further added: “We’re proud to help NAB continue to leverage the scale, resilience, and security of AWS to accelerate product development, operate more efficiently and more cost-effectively while exceeding customer expectations and meeting the necessary compliance requirements.”

NAB said it is one of the largest employers of technological professionals in the southern hemisphere. Since 2018, the bank has trained thousands of employees in cloud skills through its Cloud Guild program, resulting in over 4500 industry-recognized certificates.


- Advertisment -