Australia’s online-only lender ME Bank has deployed Temenos software to underpin its technology transformation project with the aim of "reducing operating costs, improving customer experience and speeding up the delivery of new products".

ME Bank’s transformation project includes core system replacement with Temenos T24, launching an anti-money laundering system with Temenos AML, and deploying a business analytics solution, Temenos Insight.

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The project will be implemented in four phases and is scheduled to be completed by June 2015.

Kathryn Hawkins, chief information officer, ME Bank, said the bank’s transformation programme will enable the lender to service a growing customer base, offer innovative products and meet the changing needs of its customers.

"Supreme ease-of-use and efficient performance are key goals as we implement the multi-million dollar transformation of our technology platform," said Hawkins.

The new system will also enable "more self-service options, better stability and ultimately more products" as the lender will "have the capability to deliver these even faster", Hawkins added.

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Temenos software will additionally support the bank’s aim to significantly increase customer numbers over the next three years.

ME Bank has adopted a ‘workplace banking’ approach, whereby mobilised bankers can conduct banking services onsite within members’ workplaces.

Hawkins said: "In years to come ME Bank staff will all be working on a state-of-the-art technology platform that positions us for future growth."

David Arnott, CEO, Temenos said: "ME Bank is challenging Australia’s traditional banking landscape, and its growth plans are underlined by a unique and compelling proposition for the Australian market."

ME Bank is the only Australian bank that is 100% owned by Australia’s industry super funds and with a ‘a fairer way to bank’ tagline, ME Bank proposes to be a "genuine alternative" to the major high street banks in Australia.