Judo Bank’s technology strategy has been updated

Judo Bank, a challenger bank for small and medium-sized businesses (SMEs), has launched a refreshed technology strategy, with a focus on growth opportunities. The bank plans to invest further in technology, digital, and data to support lending growth and deliver a sector-leading cost-to-income ratio. Judo Bank’s COO, Lisa Frazier, said that investment decisions in these areas, combined with producing data insights, would enable its bankers to improve customer experience delivery. The bank will focus its technology efforts on four key areas, including building internal capabilities, optimising the cost of delivery, consolidating what it already has in place, and investing in building experiences that enable its bankers to substantially outperform the industry. Frazier also noted that data is an underutilised asset and plans to use a cloud-based data platform to deliver reporting insights, advanced analytics, and leverage artificial intelligence. The bank is also planning to introduce proven technologies such as CRM, workflow, and ERP to reduce future cost growth. By FY24, Judo Bank intends to invest in technology systems that will enable scale and slow down future recruitment needs in areas such as operations, finance, and risk.