Australia's Volt moves digital banking to cloud.

Global Banking News-May 25, 2018--Australia's Volt moves digital banking to cloud

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Global Banking News - 25 May 2018

Australia-based Volt has said that it is to move its digital banking facilities to the cloud.

Volt said that it would use a software-as-a-service package from Temenos to help move its digital banking platform to the cloud. The service currently has no branches.

Last month, Volt was granted a restricted authorised deposit-taking institution (Radi) license by the Australian Prudential Regulation Authority.

Steve Weston, CEO, Volt, said, 'As the first digital bank in Australia, we are using technology to challenge the way banking is done. Temenos' Cloud will allow us to launch quickly and at the same time meet Australian regulations. Incumbent banks in Australia have grown complacent and benefited from the inertia that comes from the difficulty of changing banks. With Temenos software, we can adapt to the customers' changing needs, reduce costs and innovate faster.'

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