Small-to-medium-sized businesses today expect a more dynamic banking experience. Judo Bank understands that each company is unique. While Australia’s larger banks favour a one-size-fits-all approach, this doesn’t allow businesses to maximise their potential.
Judo Bank was built by a group of experienced financial professionals. The company needed a cloud banking platform that could deliver truly bespoke services that matched its expertise.
Challenge
To power the future of small and medium-sized enterprise (SME) lending in Australia, Judo Bank knew that it had to reimagine its lending platform.
Its ideal platform could:
- Facilitate collaboration between lenders, brokers and customers to achieve better outcomes
- Enable effective borrowing solutions individually tailored to each business
- Produce full credit decisions for every customer within just five business days
- Integrate and operate seamlessly to support their vision for an ‘IT-less’ future.
Judo Bank decided to take this unique opportunity to start fresh – rethinking the technology required to support their new ecosystem. Itoc had the answer: a new breed of banking platform – based entirely in the cloud.
“Judo Bank works with customers to develop a deep understanding of their business, building relationships based on honesty and trust. We knew that we needed the same kind of relationship with our technology partner – and we found that with Itoc.”
Graham Dickens, Chief Technology Officer
Solution
With deep expertise in deploying and managing AWS-based cloud solutions for financial organisations, Itoc took on the challenge to:
- Architect, design and implement a lending platform on the Amazon Web Services (AWS) cloud – in less than three months
- Provide ongoing Managed Services to guarantee service delivery and allow Judo Bank’s team to focus on what they do best
- Lay the foundation for Cloud Native solutions that would underpin Judo Bank’s next generation of disruptive products and services
Fully cloud-based, the new platform leverages a range of AWS technology, including:
- Elastic Compute Cloud,
- Simple Storage Service,
- Relational Database Service,
- API Gateway,
- Lambda, and
- WorkSpaces
Outcome
Together, Judo Bank and Itoc have created a true ecosystem in the cloud. Representing the future of SME lending in Australia, it provides:
- Superior customer experiences – with real-time distribution of information
- Stronger decision-making capability – with more transparent communications
- Increased agility – to outmanoeuvre larger competitors and capitalise on opportunities
The new Judo Bank platform empowers bankers and brokers to deliver an unrivalled service. Customers now have insight and transparency into today’s lending experience for SMEs – which is otherwise still a well-known “dark art”.
"Judo Bank believes technology should be invisible, so that our team can focus on the valuable relationships with our customers. Itoc’s cloud-based services have enabled us to remain dedicated to our true mission – while achieving our vision of an IT-less future."
Graham Dickens, Chief Technology Officer
