NAB and Amazon Web Services agree multimillion dollar cloud deal

NAB has signed a long-term deal with AWS, an Amazon company, to further drive NAB’s cloud-first technology strategy. The extended collaboration is part of NAB’s ambitious multi-cloud approach, which has seen it become a market-leader in transition to the cloud.

The deal between the two organisations includes acceleration of the migration of key critical workloads to AWS. The renewed collaboration also includes NAB adopting the latest AWS innovations, like AWS Graviton processors designed to deliver the best price-to-performance for cloud workloads, helping NAB improve efficiency and sustainability in the cloud.

What does the AWS partnership mean for NAB?

NAB started accelerating its cloud strategy in 2018 and has moved 70% of its apps to cloud. NAB also became the first major Aussie bank to move its business banking online platform to the cloud, migrated its Global FX & Trading Platform (Murex) to the cloud, and partnered with AWS and three other global banks to launch the Global Open Finance Challenge.

NAB Group Executive Technology and Enterprise Operations, Patrick Wright, said NAB’s substantial investment in the cloud and collaboration with Amazon Web Services was enabling it to be more innovative, agile, and cost effective in delivering great customer experiences.

“The cloud is now ingrained at NAB. Our Simple Home Loans, internet banking, NAB Connect online business platform, and recently launched NAB Now Pay Later product are just some of our customer services being enabled by the cloud,” Patrick Wright commented.

Patrick Wright, Group Executive Technology and Enterprise Operations at NAB

“The cloud is powering our ability to deliver new and improved services to market more quickly, with added reliability. NAB also benefits from significant investment AWS is making in world-class highly secure and resilient global infrastructure, as part of the cloud shared security model. In combination with NAB’s investments in security, we create a highly secure environment to keep our customers and the bank safe,” Patrick Wright further commented.

“We’ve had a long and proud relationship with AWS dating back to 2013 and we are excited to extend this collaboration. Amazon Web Services is a critical partner in our technology strategy and is helping us deliver new and innovative experiences for our customers. We will soon complete our roll-out of Amazon Connect, AWS’s ‘smart’ cloud contact centre offering, which will be delivered across all of NAB Group’s call centres,” Mr Wright further said.

What does AWS bring to the partnership?

Amazon Connect is an easy-to-use omnichannel Cloud Contact Centre that helps businesses provide superior customer service at a lower cost. The service uses AI to match NAB clients to the most appropriate, highly-skilled, Australia-based contact centre team member.

The service forms part of NAB’s internet banking experience so clients can call via a button within the app and be authenticated without having to go through a list of personal questions.

Wright said NAB was benefitting from Amazon Connect’s automation and AI capabilities, which are helping the bank operate client contact centres more efficiently and provide a more tailored experience for customers. “We want to deliver more personalised experiences for clients, aligned to their preferences in how they want to interact with us,” Mr Wright said.

NAB has also optimised costs for its cloud-based infrastructure. Using AWS produtcs, including AWS Graviton, NAB implemented a program to save over $1m per month in cloud costs, promoting a company culture focused on both efficiency and innovation for clients.

What does the partnership mean for AWS?

AWS MD for ANZ, Rianne Van Veldhuizen, said AWS was excited to play a key role in supporting NAB’s to deliver innovative and intuitive digital experiences for customers. “Cloud is one of the defining technologies of the financial services industry and AWS is helping banking leaders like NAB drive innovation and business growth” Rianne Van Veldhuizen said.

“One of the key benefits of NAB’s transformation is the ability for the bank to become data-driven, which allows their data scientists, engineers, marketers, and other roles to make better informed decisions, faster,” Rianne Van Veldhuizen further commented.

Rianne Van Veldhuizen, Managing Director for ANZ at AWS

“We’re proud to help NAB continue to leverage the scale, resilience, and security of AWS to accelerate product development, operate more efficiently and more cost effectively while exceeding customer expectations and meeting the necessary compliance requirements.”

NAB is one of the largest technology talent employers in the southern hemisphere. The bank has trained thousands of colleagues in cloud skills since 2018 through its Cloud Guild program, resulting in more than 4500 industry-recognised certifications.

At AWS re:Invent, AWS’s annual tech conference for the global cloud computing community, AWS also announced AWS Industry Quest: Financial Services, a new game-based learning experience on AWS Skill Builder that delivers training for real-world cloud solutions for the financial services industry. NAB is AWS’s first Australian beta customer to test this experience.