Australia’s ME Bank has implemented the latest version of GFG Group’s Cadencie card management software to deploy a range of new card and payment products.
ME Bank is owned by some of the largest industry super funds in Australia, providing super fund and union members with a banking alternative. It has been described as being like a building society on steroids since its establishment in 1999.
The Cadencie upgrade is the latest in an eight-year partnership between the bank and the New Zealand provider of electronic payment solutions and services. GFG, which is accredited by the World Bank, services more than 60 banks and mobile service operators in more than 20 countries.
Its first product, Unicard, was built for mainframes. The latest version, 7.4, is Java-based.
“We’re using a Brazilian language (XSeed), which complies to Java,” says GFG executive director Dennis Row. “It’s a low-cost deployment platform. Over time, we plan to move to native Java.”
He says certain card platforms are always at the end of their life, forcing customers to look at new systems.
“Markets are focused on the convergence of mobile payments and cards. We’re pretty well placed in both areas, with Cadencie for credit card payments, and Simfonie for mobile payments.
“Near field communications is becoming a reality. Payments will all be on the phone. We can cross sell to our mobile customers, and do the reverse for our card customers.”
ME Bank is planning the launch of multiple new cards for both its personal and corporate customers. “Cadencie will allow us to deploy new products faster to market and enhance the features available in existing customers,” says the bank’s general manager IT, Shane Kuret.
Row says GFG is in the process of formalising a contract with a very large Australian bank.
The company’s core research and development team is based in Auckland, with sales, consulting and support staff operating from Melbourne, Manila, Singapore and Dubai.
GFG also sells a testing tool, FinSim, which is used by every major bank in Australia and New Zealand.