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Heritage Bank builds automation skills with Red Hat Open Innovation Labs

Heritage Bank – Australia’s largest customer-owned bank, with more than 60 branches in southern Queensland and a network of mortgage brokers in every state and territory in Australia. 

Challenge 

Heritage Bank’s strategic goal was to transform from a locally-focused bank to a well-known digital financial institution. To achieve this, the bank sought to modernize its IT systems, build staff skills on new approaches and technologies, and deliver services faster to customers. 

Path to innovation 

To plan its digital transformation, Heritage Bank engaged Red Hat Open Innovation Labs, a collaborative residency. During this engagement, the bank’s infrastructure and development teams worked with Red Hat consultants to learn how to improve business processes with workflow automation. Staff from these disparate teams worked side-by-side with each other and Red Hat to create a workflow prototype and ideas for future projects. 

Business outcomes 

After Open Innovation Labs, Heritage Bank’s teams offer weekly software demonstrations and delivery to product owners and have developed modern, automated loan processes. As a result, the bank’s teams delivered its new real-time payment platform for the nationwide New Payment Platform (NPP) 10 months earlier than the average financial institution in Australia. 

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