Press Release

Macquarie Bank launches Australia’s fastest account opening experience

Sydney, 13 December 2021

 Macquarie Bank (Macquarie) has launched Australia’s fastest digital account opening experience which allows new customers to apply for a transaction and savings account, have their identity fully verified and start banking in under a minute.

In addition to getting immediate access to Macquarie’s mobile and online banking applications, a debit card will be instantly loaded onto a customers’ Apple or Google wallet which means they can receive funds and start using their card immediately.

The new capability is the latest innovation to be powered by Macquarie’s industry leading digital banking and cloud-native platform, facilitating faster and more intuitive digital experiences for customers. Macquarie is the first Australian bank of size, and one of just a handful globally, running its core banking platform on the public cloud, which unlocks far greater speed and processing power for its customers.

“Many banks still require customers to visit a branch or wait days for the physical card to arrive in the mail. We have reimagined the account opening experience to be almost instantaneous while still delivering all of the same comprehensive security and identity checks,” said Olivia McArdle, Macquarie Bank’s Head of Deposits and Payments.

“The feedback from customers since we pushed this innovation live a month ago has been fantastic. Customers have told us they are setting up their accounts from the comfort of their couch on a Sunday evening or out and about on the weekend.”

Macquarie has also launched one click offset accounts so home loan customers can instantly open and link up to 10 offset accounts to their home loan with just one click. Macquarie Banking and Financial Services Group

“We’ve set out to provide the kinds of experiences you might expect from a fintech, but with the security of a bank,” said Luis Uguina, Macquarie Bank’s Chief Digital Officer.

“With this in mind, we’ve built our own security app Macquarie Authenticator which gives customers real time control to approve or deny transactions and account changes. It’s fast, personalised and most importantly, a seamless way to incorporate extra security into the way you manage your finances.”

 

For further information, please contact:

Caroline Bligh
Corporate Affairs
Mobile: 0410 724 246

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