Synpulse, a global management consulting firm, specializes in banking transformation and technological integration.
The partnership between Judo Bank and Synpulse was formed to develop and implement a new core banking platform that would enable Judo Bank to launch new banking products efficiently. This collaboration aims to enhance the bank’s technological capabilities, thereby providing superior service to its customers and improving operational flexibility.
Synpulse provided comprehensive support throughout the project’s lifecycle, from initial planning and technical project management to system integration and post go-live operations. Utilizing advanced solutions from AWS, including serverless computing and scalable storage, Synpulse ensured the platform’s high performance and scalability.
Judo Bank focused on leveraging this new technology to launch critical banking products, including business loans, home loans, and lines of credit. The bank’s strategic goal was to improve reliability, reduce ownership costs, and increase the speed of bringing new product features to market, thereby enhancing its competitive edge in the SME banking sector.
The new core banking platform was developed and a pilot with new-to-bank customers started within the first nine months. Existing customers were migrated to the platform three months later, which facilitated Judo Bank’s ability to offer more reliable and cost-effective services.
As part of the project, Synpulse also undertook change management processes, conducting company-wide impact assessments and training to ensure that Judo Bank’s staff could seamlessly transition to and adopt the new platform. This was crucial in maintaining operational continuity and service excellence during the migration phase.
Rahul Bansal, Partner and Global Head of Retail and SME Banking at Synpulse, said, “We are thrilled to have partnered with Judo Bank on this transformative journey. The successful migration to a new core banking platform within such a tight timeframe is a testament to the strong collaboration between our teams and the power of innovative technologies from Thought Machine and AWS.
“This project also underscores Synpulse’s commitment to ramping up our business in Australia as part of our broader expansion strategy in the APAC region. We look forward to continuing our work with Judo Bank as they set new standards in SME banking.”
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