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People First Bank, Australia's biggest mutual banking merger, goes digital-first

People First Bank, Australia's biggest mutual banking merger, goes digital-first

Heritage Bank and People's Choice Credit Union - Australia's two largest customer-owned mutuals - merged in 2023 to form People First Bank. Rather than running two brands side by side, the bank went all-in on a single national identity, powered end-to-end by Backbase across every digital touchpoint.

750,000+

In un mondo basato sull'intelligenza artificiale, i sistemi legacy non solo ti rallentano, ma ti impediscono una crescita reale. Per competere, le banche hanno bisogno di una base modulare costruita per velocità, intelligenza e scalabilità.

customers

$25.3 billion

total assets

Adelaide & Toowoomba

headquarters

Objectives

Following the merger, People First Bank needed to retire two legacy platforms and launch a single, unified digital experience under one brand, without disrupting service for either heritage member base. The bank also wanted its first true digital-only onboarding journey, something neither predecessor had offered before.

Solution

People First Bank chose Backbase as the digital foundation for the new brand, now powering new iOS and Android apps, a redesigned online banking experience, and digital onboarding - letting new-to-bank customers open an account entirely online for the first time.

Results

People First Bank added 45,000 new customers and reached a Net Promoter Score of +31 - nearly three times the ANZ industry average, with a 4.6 app store rating. It now has a strong digital foundation to keep innovating as it works toward becoming Australia's most trusted and loved bank.

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This is a major step in a broader transformation program that is modernising the technology that supports our customers and our people. Over the past three years we have delivered a new residential lending platform, and now a completely new and enhanced digital banking experience. Importantly, we have done this in a way that creates a strong basis for future delivery, allowing us to continue improving digital banking, while progressing payments and core banking initiatives in the year ahead.

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Andy Weir

Chief Technology and Transformation Officer, People First Bank