Macquarie Bank - Enterprise Tech Ecosystem Series

Macquarie Bank - Enterprise Tech Ecosystem Series

Summary

Macquarie Bank offers retail financial and commercial banking services in Australia and select financial services at offshore locations. Macquarie Bank comprises two operating segments: Banking and Financial Services, and Commodities and Global Markets. Banking and Financial Services offers retail banking and financial services including personal banking (mortgages, savings and transaction accounts, credit cards, and vehicle finance), wealth management (cash management, financial advice, and private banking), and business banking. Commodities and Global Markets includes businesses such as cash equities, credit markets, commodity markets and finance, and equity derivatives and trading. Meanwhile, Corporate is a non-operating segment that includes head office and central service groups, including Treasury. Macquarie Bank also acts as an investment intermediary for corporate, institutional, retail, and government clients across the world.

This report provides insight into Macquarie Bank's fintech activities, including its digital transformation strategies, its technology initiatives, its estimated ICT budget, and its major ICT contracts.

Scope

- Macquarie Bank has signed strategic partnerships and agreements with technology companies such as Red Hat, Google, and Apple to either gain access to or collaboratively develop products using cloud, mobile, and IT software solutions, among other technologies
- Macquarie Bank is migrating its IT infrastructure and its core banking systems and functions to the public cloud to simplify and streamline its processes. The aim is to migrate 100% of its IT infrastructure to the cloud by 2022.
- In 2020, Macquarie Bank introduced robotic process automation in a bid to streamline business processes while eliminating time-consuming administrative tasks involved in customer-facing services.

Reasons to Buy

- Gain insight into Macquarie Bank’s fintech operations.
- Discover its fintech strategies and innovation initiatives.
- Learn about its product launches, partnerships, investments, and acquisitions.