P&N Group, the parent of P&N Bank and BCU Bank, said it has engaged data management vendor Informatica and cloud data company Snowflake to modernise its banks’ cloud analytics capabilities.
It will use Informatica’s Intelligent Data Management Cloud’s AI-powered cloud-native services as the backbone, with data ingestion and orchestration, data quality and data governance on Snowflake Data Cloud for reporting, analytics and data science.
P&N Group comprises P&N Bank in Western Australia and BCU Bank in New South Wales and south east Queensland.
The partnership is part of P&N’s digital transformation strategy that aims to deliver more personalised banking for its customers, while ensuring the protection and integrity of customer data.
“As a leading customer-owned banking group in Australia, P&N Group’s transformation program involves an investment in strategic platforms that will provide secure data environments, advanced data ingestion and offer advance automated governance tools,” P&N Group general manager of data and open banking Chris Malcolm said.
“Through our digital transformation partnership with Informatica and Snowflake, we are confident it will help us to be placed at the forefront of the next generation of banking.”
The solution would enable P&N to scale high data volumes and removing siloed data across P&N Bank and BCU Bank systems to derive insights.
This aims to help the bank’s data science team better support customer satisfaction, retention and the overall customer experience.
“This is a partnership that we are truly excited about, especially with P&N Group’s plan to adopt our new AI-powered, cloud-native solutions to improve customer experience and regulatory compliance," Informatica group vice president Richard Scott said.
“We are honoured to work alongside a brand that embodies technology transformation, and we look forward to supporting them throughout their data-driven-digitalisation journey to bring their data to life.”
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