NGM Group has retired around 30% of its technology estate after moving its core banking systems to the cloud.
The move ends three years of running two separate platforms since Greater Bank and Newcastle Permanent merged. The group says it is one of the first customer-owned banks in Australia to make the shift. It spans everything from digital and branch services to payments for its more than 660,000 customers.
For brokers, the upgrade comes as the group leans harder on the third-party channel. When NGM Group completed a record $500 million debt issue in January, chief financial officer Richard Burton described the broker channel as an important source of growth.
“We have been working off two separate technology environments since we merged three years ago,” NGM Group chief information officer Andrew Cresp (pictured) said.
Cresp said running fewer applications and systems had cut operational risk, strengthened cybersecurity and delivered major cost savings. The cloud-first approach is supported by two purpose-built data centres, which are working towards net zero operations by 2030.
The group has also grown since the merger. The combined business started with more than $20 billion in assets and 1,600 staff. It now holds more than $25 billion in assets and employs more than 1,800 people.
To support the transformation, NGM Group spent $53 million on technology and innovation over the past 12 months. It has also grown its technology division by 10% and brought on cadets from the University of Newcastle.
Cresp said the move would make banking safer and faster for customers, with more reliable digital services and stronger data protection.
“Our migration to the cloud gives us better flexibility to integrate new services, improve our digital experiences, and simplify our banking ecosystem over time,” he said.
Cresp said the migration also sets the group up “to introduce new products, services and digital capabilities for our customers in the years to come”.
That next phase will come under new leadership. Chief customer and digital innovation officer James Cudmore has been named to succeed Bernadette Inglis as chief executive in early 2027, with the appointment going through the regulatory process.
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