News Bites

NZCU Baywide revamps banking system

Credit union NZCU Baywide has launched a new technology system across its branch and online banking network.

Chief executive Gavin Earle said the multi-million dollar system would help the credit union “modernise” its internet and mobile banking offering. Chairman Iain Taylor described the launch as the “largest change project we’ve carried out in our 47 year history”.

NZCU’s new system was built on an Oracle platform and was installed between 2-4 March. The update was rolled out to the credit union’s 30,000 customers over the past week.

CEO Earle added: “Updating our core banking system is like replacing the hard-drive in a very large computer so it’s better, faster and able to operate more advanced technology.”