Under the new collaboration, Microsoft will serve as the preferred cloud provider and help the Australian bank to simplify its digital landscape, and provide more advanced and personalised banking services for customers
Australia-based Bank of Queensland (BOQ) has entered a five-year strategic partnership with Microsoft to support its digital transformation.
The new collaboration will enable the bank to simplify its digital landscape, and provide more advanced and personalised banking services for customers, said Microsoft.
Under the partnership, Microsoft will serve as the preferred cloud provider and help BOQ progressively switch its six data centres to the Microsoft Azure Cloud by 2025.
By moving to a single cloud platform, the Australian lender is enabled to expand the use of automation and other cloud-native capabilities to improve customer experience.
Also, BOQ will become the first Microsoft Cloud for Financial Services customers in Australia and New Zealand, said Microsoft.
Microsoft Cloud for Financial Services will provide the platform for an advanced customer experience layer which will connect to the bank’s data hosted in the Azure Cloud.
BOQ Group CEO and managing director George Frazis said: “Our vision is to build social capital with our customers and the community, and partnerships are critical to achieving this.
“We are excited to have such a strong partner in Microsoft to support us in building the digital bank of the future.
“Microsoft are long-established tech innovators and, for BOQ, Microsoft Azure platform and Cloud for Financial Services environment will offer new opportunities to drive simplification and improve the experience of our customers and bankers.”
BOQ Group chief information officer Craig Ryman said: “Key to our transformation is continued uplift in capability and skills within our own teams, and as part of the partnership BOQ will work with Microsoft to co-design training and learning programs for our people.”
Microsoft will expand BOQ’s Dynamics 365 capabilities to streamline its customer processes and modernise the system used by frontline employees in branches.
Both companies will jointly design customer journeys suitable to the Australian market.
Microsoft will also help the bank develop new products and capabilities, which could also be shared for broader use on the Microsoft Azure Marketplace.
Its global and regional executives, backed by the US and locally based engineering teams, will work together with BOQ throughout its digital transformation.
Furthermore, the partnership will also enable ‘ecosystem banking’ through collaboration with the financial industry and other partners, said Microsoft.
Microsoft executive vice president and chief commercial officer Judson Althoff said: “Digital technologies are critical enablers for organisations to be more resilient, accelerate innovation and unlock new value for their business.”
“With Azure as BOQ’s preferred cloud platform, we are helping the company maximise its existing investments through Microsoft Cloud for Financial Services to drive rapid and responsible growth, while providing new and enhanced experiences for customers.”