Macquarie Bank has launched what it claims to be the fastest account opening experience in Australia, where new customers can be onboarded digitally in less than a minute.
Using Macquarie’s modernized cloud platform, customers can apply for a transaction and savings account and have their identity verified in an instant. They then have access to Macquarie’s online banking apps and have debit cards reflected in their Apple or Google wallets for immediate use.
Customers can also link up to 10 offsetting accounts to their home loans with just one click.
Since launching a month ago, Olivia McArdle, head of deposits and payments at Macquarie, said the bank has received positive feedback from customers who have been able to open an account with a simple gesture while lounging around the corner. House.
Macquarie is one of the few banks in the world – and the largest in Australia – to operate its core banking platform in the public cloud, which delivers superior processing speed and power to its customers.
“Many banks still require customers to go to a branch or wait days for the physical card to arrive in the mail,” McArdle said. “We’ve redesigned the account opening experience to be almost instantaneous while providing the same comprehensive security and identity controls. “
Since cloud computing carries more risk than traditional banking services, customer protection remained at the forefront of Macquarie when he created his own security application, Macquarie Authenticator. Luis Uguina, chief digital officer of Macquarie, said the bank was keen to offer “the experience of a fintech … with the security of a bank”.
“[The Macquarie Authenticator] gives clients real-time control to approve or deny transactions and account changes, ”Uguina said. “It’s fast, personalized, and most importantly, a seamless way to build additional security into the way you manage your finances. “