National Australia Bank (NAB) has announced that 4 million customers will be migrated to its NextGen core banking platform over the next three years. The banking platform is part of a 10-year business transformation initiative to modernise the bank’s IT systems. NAB’s enterprise services transformation group executive, Lisa Gray, told media on a conference call that from early 2015, customers will be able to open an NAB-branded personal account on the NextGen platform. SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe “In parallel, we have been rationalising our product range. We will then progressively look at how we put business products onto the NextGen platform,” she said. “The third thing we are looking at is customer migration. The plan is to migrate 4 million customers to the new platform over the next two to three years.” UBank USaver Ultra was the first transaction account launched on the NextGen platform in 2013. It can be applied for and verified without human interaction. An internal systems engine called ‘Know Your Customer’ checks passport, driver licenses and other types of identification via an automatic database. UBank is a subsidiary of NAB. According to the bank, existing USaver customers can apply for the account within one minute. Gray added that many of the learnings from UBank will be used across its NAB range of products and services. “Early next year [2014] we will release another set of direct banking capabilities on the NextGen platform,” she said. However, NAB did not have any further details on the capabilities. In related news, the bank has appointed former Ernst Young partner David Boyle as its new CIO. He replaces David McGee, who resigned in August 2013. Follow Hamish Barwick on Twitter: @HamishBarwick Follow CIO Australia on Twitter and Like us on Facebook… Twitter: @CIO_Australia, Facebook: CIO Australia, or take part in the CIO conversation on LinkedIn: CIO Australia Related content opinion The changing face of cybersecurity threats in 2023 Cybersecurity has always been a cat-and-mouse game, but the mice keep getting bigger and are becoming increasingly harder to hunt. By Dipti Parmar Sep 29, 2023 8 mins Cybercrime Security brandpost Should finance organizations bank on Generative AI? Finance and banking organizations are looking at generative AI to support employees and customers across a range of text and numerically-based use cases. By Jay Limbasiya, Global AI, Analytics, & Data Management Business Development, Unstructured Data Solutions, Dell Technologies Sep 29, 2023 5 mins Artificial Intelligence brandpost Embrace the Generative AI revolution: a guide to integrating Generative AI into your operations The CTO of SAP shares his experiences and learnings to provide actionable insights on navigating the GenAI revolution. By Juergen Mueller Sep 29, 2023 4 mins Artificial Intelligence feature 10 most in-demand generative AI skills Gen AI is booming, and companies are scrambling to fill skills gaps by hiring freelancers to make the most of the technology. These are the 10 most sought-after generative AI skills on the market right now. By Sarah K. White Sep 29, 2023 8 mins Hiring Generative AI IT Skills Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe