Beyond Bank working with Cognizant on digital transformation upgrades

Beyond Bank, one of Australia’s largest customer-owned banks, has made several strides in its digital transformation ambitions, revamping its digital experience and introducing several new products. Cognizant is serving as the bank’s digital transformation partner.

With branches and offices in New South Wales, South Australia, Western Australia, ACT and Victoria, Beyond Bank is one of Australia’s larger banks. Notably, the bank is a B Corp and owned by its customers, which includes more than 6,000 community organisations around the nation.

Beyond Bank’s digital transformation roadmap focuses on several key workstreams, including cloud and API architecture modernisation and an enterprise-wide Windows 11 migration. These integrations will be designed to be flexible, scalable and secure technology ecosystems that enable the introduction of new products with enhanced speed to market, further preparing Beyond Bank for future growth.

Commenting on the collaboration with Cognizant, Stevie-Ann Dovico, Chief Information Officer of Beyond Bank, said: “Our partnership with Cognizant is pivotal in advancing our digital transformation. Their expertise allows us to modernise our IT infrastructure and enhance security, aligning with our values as a customer-owned bank.”

Working with Cognizant, Beyond Bank will modernise the bank’s IT infrastructure, establish a Security Operations Centre (SOC), and strengthen vendor assurance frameworks to help align with the Australian Prudential Regulation Authority (APRA) standards. The engagement also has as its scope to automate processes, enable self-service and extend the value of existing licenses.

Cognizant will additionally help develop a comprehensive data and information management strategy for Beyond Bank. Leveraging AI, this strategy aims to optimise structured data from core banking systems and organise unstructured data from knowledge management sources for organisation-wide insights, enabling more tailored services for its customers.

“These initiatives aim to enhance operational resilience, streamline processes and improve customer experience,” said Dovico.

Rob Marchiori, Australia Country Manager at Cognizant, stated: “Beyond Bank is a lighthouse client for us in the customer-owned banking sector. By enhancing their digital capabilities, we will help them provide better services to their customers and support paving the way for a resilient banking model that addresses current and future market demands.”