CBA embraces frequent release cycle

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Kathy Cummings, Executive General Manager Third-Party and Mobile Banking at Commonwealth Bank (CBA) says she applauds NextGen.Net for upgrading from quarterly to monthly system updates to its electronic lodgement service ApplyOnline.

Referring to the frequency increase as “a welcome innovation” Cummings talks of the dramatic rate of change in the industry and the significance of moving to a monthly release cycle; and ultimately, as NextGen.Net is forecasting, a weekly cycle, for ApplyOnline system updates.

“It allows us to get to market faster and reduces the operational risk because it reduces the scope of the change package and corresponding code. It’s preferable for changes to go out in drip feeds as opposed to one large file that has to undergo system updates”.

“The keys to success in this industry are flexibility and agility, and having the option to synchronise with our own change calendar as opposed to being forced to align to a limited number of large project release dates. This benefits our third-party broker network and means that we don’t have to postpone getting our release to market.”

“The decision by NextGen.Net to transition to monthly and weekly system update release cycles for ApplyOnline provides an option that is currently not available,” says Cummings.

“Our recent transition from quarterly to monthly releases for ApplyOnline has been very successful and well received across the industry. We’re now moving to weekly cycles,” says NextGen.Net Sales Director, Tony Carn.

NextGen.Net will make the transition to weekly release cycles for their system by providing automated build and sign-off tools that can be effectively utilised to accommodate a broad range of change management procedures.

“When providing an effective change management protocol most changes need to be made and properly aligned across a range of systems and procedures. For example, a change that a lender may make regarding a loan product needs to be accommodated in their own processing system, as well as the broker group CRM, qualification and comparison tools,” says Carn.

The ApplyOnline system has enjoyed great success, with almost all third-party electronic lodgements in Australia using an ApplyOnline Lodgement Implementation Module (LIM).

CBA will soon be upgrading their ApplyOnline LIM to ‘ApplyOnline+’, which empowers lenders with the ability to effect change management in real-time, such as changes to credit policy and assessment metrics. Therefore allowing users to benefit from accurate, reliable and up-to-date lender information.

“We need to provide as much real-time information as possible to our broker partners so they can continue to improve their productivity with quality applications and an increase in loan approvals,” says Cummings.

“The ability to implement change management in real-time is being enormously well received, as is illustrated by the high take-up of our system upgrade coined ApplyOnline+,” says Carn.

Powered by NextGen.Net, ApplyOnline® is the premier electronic lodgement system in Australia.

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