The Challenge
Bonus Bonds is a strong, New Zealand brand which offers a unique product as the bonds can be redeemed at any time for the value at which they were purchased.
Bonus Bonds wanted to develop its systems capabilities to:
- Expand its customer reach, via a new online channel called MyBonusBonds
- Modernise its core operating platform and infrastructure
- Reduce support costs and improve maintainability of the application
- Ensure continuity of functionality with the old application
- Modernise the data structure of the database
The Solution
Datacom worked to a challenging schedule to completely overhaul a complex legacy application at a highly competitive price, without resorting to code conversion or other shortcuts with maintenance issues.
During the project, Datacom was able to work with the bank’s internal teams to ensure Datacom’s approach aligned very closely with ANZ’s wider architectural requirements; this ensured Bonus Bonds purchased a solution that would not fall out of step with its enterprise architecture.
Datacom approached the project to be technology agnostic, putting in the components that best met Bonus Bonds needs instead of pushing one product or technology stack due to restrictive product relationships. This demonstrated value and a good understanding of ANZ’s business
The transformation of the Bonus Bonds systems has helped to ensure that Bonus Bonds will remain a favourite with New Zealand investors for years to come.
"Datacom’s local and demonstrable experience in legacy system migration and modernisation for major organisations in New Zealand, as well as its proven track record of building and deploying complex financial systems to the banking and finance sector, ensured it was chosen to deliver the next evolution of the Bonus Bonds proposition."
- ANZ
Results
Datacom was able to successfully and securely migrate data from one million customer records accurately, ensuring there was zero exposure to Bonus Bonds for loss of data.