BankVic: Embracing Innovation with the Ultracs App 3 Early Adopter Project

BankVic is a customer-owned bank for police officers, health and emergency services workers, government staff, and their families. It was founded in 1974 by Victoria Police employees and has grown to serve over 120,000 customers and hold over $3 billion in assets.

BankVic's mobile app is its primary banking channel, where customers do most, if not all, of their banking. BankVic partnered with Ultradata to upgrade its banking app to Ultracs App 3 to maintain its high service standards where they matter most to customers. The transition to Ultracs App 3 was a key initiative to enhance BankVic's services, customer experience, and long-term sustainability.

Recognising the opportunity to be an early adopter of the new platform, BankVic has partnered with Ultradata to upgrade to Ultracs App 3 while ensuring a smooth transition for its members.

The Early Adopter Process

Ultradata's Early Adopter initiative offers clients an exclusive preview of the latest Ultradata technology solutions through implementation at their site in a test environment. By being the first to test new solutions, Early Adopter participants get a chance to provide feedback that could shape the future releases of the product.

Kylie Daniel is BankVic's Head of Project Management and Architecture. In this role, she works with Ultradata to bring the bank's technology solutions, such as its app, to life. Kylie notes that participating in the Early Adopter process is allowing BankVic to be more agile in its project delivery and first to market with the latest technology.

"Through the Early Adopter Process, we have also been able to take the opportunity to make modifications to content and digital assets in a much more efficient manner.

Being part of the Early Adopter process is allowing BankVic to differentiate itself early on in the piece from others in the industry through adopting changes that others don't yet have—although they will follow closely."

By embracing early adoption, BankVic is positioning itself ahead of industry peers, rolling out new digital capabilities ahead of widespread adoption.

Delivering Immediate Value

The Ultracs App 3 upgrade will introduce enhanced digital banking capabilities designed to provide an improved user experience such as:

• Making the app simple and convenient for customers through intuitive navigation and streamlined functionality.
• Transaction search capability, which will provide customers with an easy way to locate past transactions.
• Customised account management options which will allow customers to label and organise their accounts (and how they display on the app) as they see fit.
• Greater account information sharing which will give customers the ability to share BSB and account details effortlessly (via copy and paste), making in-app payments easier.
• Real-time member communication which will enable BankVic to deliver personalised financial tips, scam awareness messages, and service updates directly through the app.

Laying the Foundation for the Future of Banking

Beyond the immediate benefits, the upcoming scheduled upgrade to App 3 will strengthen BankVic's long-term digital strategy. Keeping banking platforms up to date is crucial for security, supportability, and reliability. This upgrade will also simplify the next phase of BankVic's digital roadmap, where BankVic will introduce new Ultradata modules to enhance the customer experience further.

Working with Ultradata: A Unified Vision for Innovation

According to Kylie, the key to the successful implementation and rollout of Ultracs App 3 Early Adopter project so far, has been the perfect blend of BankVic’s and Ultradata’s expertise and collaboration.

"The collaborative approach between BankVic, Ultradata, and the two other Early Adopter mutual banks has spurred on the success thus far, providing transparency and efficiency throughout the process. Sharing progress, risks, and solutions as a collective project team has strengthened the project's outcomes.

The planned user experience enhancements offer our members greater and simpler navigation and functionality. At a time when attention is demanded from many competing directions, simplicity and brevity are wonderful things to offer our customers.”