Macquarie transforms its digital banking experience for customers
- Industry: Financial services
- Region: APAC
- Headquarters: Sydney, Australia
- Company size: 13,800 (Macquarie Group employees)
Macquarie is a global financial services provider headquarted in Australia with offices in 28 countries. Macquarie’s Banking and Financial Services Group (BFS) comprises Macquarie’s retail banking and financial services business, providing a diverse range of personal banking, wealth management, and business banking products and services. To develop its new digital banking offering, Macquarie looked beyond the financial services industry to the digital companies leading in customer experience.
2017 Red Hat Innovation Awards winner
Macquarie transforms digital banking experience for customers
Macquarie’s Banking and Financial Services Group used Red Hat solutions and a DevOps approach to transform its digital banking experience for its customers.
The path to success
Challenge: Offer smarter digital banking to customers
To develop its new digital banking offering, Macquarie looked beyond financial services to the customer experiences provided by modern digital service companies. “We're a digital-first business, and therefore our offering has to be the best it possibly can be,” said Richard Heeley, head of technology for Macquarie’s Banking and Financial Services Group. “We knew we had to transform it. We wanted to make it a fast, efficient, and optimal experience.”
Macquarie transforms digital banking with Red Hat OpenShift
Solution: Modernize IT using the cloud
For its digital transformation, Macquarie evaluated several Platform-as-a-Service (PaaS) solutions before choosing to deploy Red Hat® OpenShift Container Platform as a public cloud implementation in a datacenter run by Amazon Web Services (AWS). “[The solution] provides the flexibility to move our monolithic applications and services, as well as our modern microservices, to the cloud,” said Rajay Rai, head of digital engineering at Macquarie’s Banking and Financial Services Group. In just a few months, Macquarie migrated more than 60 business applications and 150 services to its new solution.
Results: Improve developer and customer experience
With software release time cut from hours to minutes, Macquarie can release software multiple times a day. Customers can now easily manage all aspects of their finances in one place. Macquarie’s DevOps approach allows developers to focus on innovation and asset delivery, rather than routine tasks, improving developer productivity by more than 50%. “Red Hat technology has helped us to work in a more efficient way, with speed and agility as the biggest outcomes,” said Luis Uguina, chief digital officer at Macquarie’s Banking and Financial Services Group. “By continually using the platform, we expect huge benefits over the coming months and years. We're just at the beginning of the journey.”