15 December 2020
Heritage Bank today announced a five-year deal with specialist fibre and network solutions provider Vocus that will deliver up to 20 times its existing bandwidth, markedly reduce costs, and significantly accelerate its digital transformation and growth strategy.
The new solution will enable Heritage to increase its speed to market with new technology, products and services, provide a more productive and collaborative environment for its teams, and ultimately provide a better experience for members using its digital channels and branches.
Vocus won a competitive procurement process to provide Heritage’s data and voice communications solution for the next five years.
Under the deal, Vocus will establish fibre network connections across all Heritage Bank sites, with all connections secured, monitored and controlled via a new managed software-driven WAN solution. Vocus will also provide secure core network, internet, and enterprise voice services, as well as introduce Zoom video-first collaboration services across the bank.
Heritage Bank CEO, Peter Lock, said it was exciting to be working with Vocus and its partners to build the platform for ongoing digitally-driven improvements.
“In Vocus, we’ve found a partner who understands the technology solutions we need today and has the capability to help us achieve our long-term vision and strategy,” he said.
“Their solution not only massively increases our data bandwidth but also provides significant cost savings.
“Working as a team with Vocus, this program will be transformative for Heritage Bank as we expand our digital capabilities, continuing to put people first by improving the experience we provide for our members
“This new partnership will make delivering our current services faster and easier, and give us the capacity to develop even more innovative products and services in future,” Mr Lock said.
Vocus Chief Executive, Enterprise & Government, Andrew Wildblood, said he was looking forward to the positive impact brilliantly simple technologies such as a full fibre network, SD-WAN and Zoom would bring to Heritage Bank.
“We can’t wait to enable Heritage Bank to do more in the cloud, bring Zoom’s collaboration services into its branches, and provide greater security and control over its new high-performance network. Our solution will enable Heritage Bank to introduce future technologies at a rapid rate and drive innovation across the business,” Mr Wildblood said.
“Heritage Bank is an iconic business, and this is an exciting partnership. With shared values and a strong cultural fit between our organisations, we look forward to delivering amazing things for the Heritage Bank team and its members,” Mr Wildblood said.
The full roll out of the new communication network will be completed in the first half of 2021.
PHOTO: Celebrating the new contract are Vocus Chief Executive, Enterprise & Government, Andrew Wildblood (left) and Heritage Bank Chief Transformation Officer Darren Stephens
Heritage Bank is Australia's largest mutual bank and one of the oldest financial institutions in the country, originating in the regional city of Toowoomba in 1875. Heritage has total assets of more than $10 billion, employs 800 staff members and has a total of 58 branches across southern Queensland and in Sydney. Heritage also provides home loans to customers throughout Australia via a network of mortgage broker partners, supported by specialist staff located in Brisbane, Sydney and Melbourne. Heritage offers a full suite of personal and business banking products, comprehensive online banking channels and a people-first focus that reflects its customer-owned structure. Heritage is Australia’s largest issuer of pre-paid cards and works in partnership with a number of iconic Australian firms including Qantas, Woolworths and Australia Post.
Vocus Group Limited (ASX: VOC) is Australia’s specialist fibre and network solutions provider, connecting all mainland capitals with Asia. Regionally, Vocus has backhaul fibre connecting most regional centres in Australia. Vocus also operates an extensive and modern network in New Zealand, connecting the country’s capitals and most regional centres. In total, the Vocus terrestrial network is c.30,000 route-km of high performance, high availability fibre-optic cable supported by 4,600km of submarine cable connecting Singapore, Indonesia and Australia and 2,100km of submarine cable between Port Hedland and Darwin and connecting offshore oil and gas facilities in the Timor Sea. Vocus owns a portfolio of well-recognised brands catering to enterprise, government, wholesale, small business and residential customers across Australia and New Zealand.