The new so-called ‘Bank in a Box’ solution provided by financial technology and software provider Rubik will support all Uniting Church organisations, personal and commercial investments as well as loans and treasury activities.
The software, part of Rubik’s ‘Software as a Service Solution,’ uses cloud-based technology and is based on core T24 technology developed by Temenos.
Customers will have access to Rubik’s internet and mobile banking facilities, making it easy for them to interact with their bank.
Rubik believes the uptake of ‘Bank in a Box’ by clients will only increase as demand for faster, efficient and scalable technologies continues to grow.
UFS chief operating officer Cathy Tunbridge said it was vital for the group to update its banking system in order to drive business strategy and not be left behind with its previous technology.
“If you want to keep pace with customer expectations, you have to constantly innovate in the way you do business and the way you reach your customers and provide them with the things that change their lives,” Ms Tunbridge said.
“This is exactly what we are doing by taking core banking and channels as a service which is flexible enough to adapt to our long-term plans, and [to be] delivered by a credible company with which we have grown a strong bond.”
Rubik managing director for banking, Dr Ken Carr, said the transition from UFS’s previous banking systems was very successful.
“We have a terrific team of people that worked hard to manage the full transition and now has proven skills in migrating clients to the new SaaS paradigm,” he said.
According to Dr Carr, the Temenos T24-based solution, combined with Rubik’s integrated channels product suite, has been popular both in Australian and New Zealand markets.
“The trend to cloud technologies for retail banking is now a reality, and we expect to increase our market share over the coming 12 months,” he said.
