Melos Sulicich, CEO, Bank of Sydney
Bank of Sydney is forging ahead with a core banking system replacement, and has selected Infosys as vendor.
The bank has operated on a Fiserv platform since 2001.
“The board approved the new operating system replacement in December 2024” Melos Sulicich, CEO of Bank of Sydney told Banking Day.
“In early 2024 we made the decision to go to market. It came down to two, Fiserv and Infosys.
“It’s on track to rollout in the early part of 2026. We’re well into it; done all the scoping phase, working through the design phase and will then head into the build phase.
“We’re very happy with what we’re moving into, and the partnership.”
The new core banking system will allow Bank of Sydney to finally arrange a direct connection to the New Payments Platform.
It is cloud native, and the bank will roll out new internet banking and mobile banking services.
Sajit Vijayakumar, Chief Business Officer and Global Head, Infosys Finacle said of the partnership with Bank of Sydney; “we have invested in creating an Australia Reference Bank, designed as a ready-to-use implementation baseline.
“This includes Australia-specific configurations for transaction accounts, savings products, personal loans, and mortgages. It also features workflows for onboarding, AML/KYC checks, open banking consent, and reporting templates aligned to APRA standards and privacy requirements.
“This hugely reduces the go-live time and risks for banks like the Bank of Sydney, allowing them to focus on their core priorities, like launching new products and improving customer service.
“For Infosys Finacle, this collaboration with Bank of Sydney is a validation of our Australia-ready solution that is aligned to the priorities of Australian banking customers.”
Bank of Sydney has $4.3 billion in assets and 25,000 customers, but is growing fast – at more than three times system.