The new origination system has helped the bank make the origination process simpler and drive the creation of a pipeline of over AUD 61 million worth of loans during just the first month, Infosys said. Since going 'live', the bank has been processing on average of 40,000 mixed transactions per day, along with 22,000 card transactions and close to 7,000 composite payments transactions on average per day.

The entire implementation of the Finacle solution stack for the bank, including core banking, origination, payments and channels, was completed in 10 months. The Finacle solution stack replaced AMBвЂ™s legacy systems to enable the bank to keep pace with new technology developments and allow a speedy response to market demands. The IT major said that the digital banking stack has been made Australia ready and has been implemented in a fully SaaS model, hosted out of Infosys datacenters in the country.ДЇinacle has enabled AMB with significant operational benefits and cost efficiencies, along with enhanced security and scalability, the company said. The Australian Military Bank (AMB), one of Australian mutual financial institution, and Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, announced the 'go live' of the Finacle banking solutions suite to drive AMBвЂ™s digital transformation programme.