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Profitability and sustainability are the two key fundamental business drivers that are achieved through the ability to meet and adapt to continuous change. The UItracs 5.1 core banking platform supports just this, and in 2021/2022 saw a significant number of clients integrate Ultradata’s flagship core banking software solution within their banking and financial organisations.
In the midst of these significant projects, and in partnership with a valued and long-term client of 30+ years the Melbourne Catholic Development Fund (CDF), the Ultradata Consulting Services team delivered one of its largest core banking upgrade projects in recent times.
The 18 Fund migration story began back in 2019, and was a result of a strategic review that was aimed to find ways to reduce risk, and consolidate operations to drive cost efficiencies and increase the effectiveness of CDF Melbourne IT services to the Funds throughout Australia.
Using the Brisbane Fund as the pilot upgrade, the CDF team focused on gathering evidence to form a baseline to better understand what business requirements to upgrade, and what to retire, before developing a migration strategy and a roll-out roadmap to standardise and integrate all CDF requirements in a common version of Ultracs 5.1.
To date, this has been an exponential undertaking for all parties involved, however with Ultradata’s high automation capability and in-house talent, the migration has been escalated in unprecedented speed delivery – cutting the upgrade process time down from 4 hours to 30 minutes per Fund which has resulted in substantial savings.
On track to meet the 21/22 EOFY deadline and keeping in budget, the project teams have managed to roll-out 16 of the 20 migrations sites (more than 80% of project), and achieve two targeted and major milestones throughout the process.
Firstly, the Ultracs Consulting Services team facilitated the migration of all the CDF sites from the CDF on premise data centre, to the TAS data centre using the ‘then current’ Ultracs release 4.3 which proved to be a significant project of its own.
The second milestone of the Ultracs 5.1 program was to upgrade all the Funds from Ultracs 4.3 to Ultracs 5.1, with the upgrade eliminating the need for many of the older in-house modifications that the CDF Funds had in place. Since the migration, the upgrade has delivered many benefits to CDF - such as the elimination of manual in-house customised maintenance and upgrade updates, and a significant reduction in risk with the 5.1 environments fully supported by Ultradata.
With an agile and robust framework now in hand, this cutting edge technology positions the CDF in an enviable point to continue to grow its services even further, and deliver the customer fulfillment that is expected by today’s tech savvy consumers.
“This major core banking system upgrade has been an immense achievement for CDF.
The strategic aims of this project was to lay strong foundations for future upgrades by reducing organisational dependence on in-house built customised systems, and instead, moving the organisation to the one systems core banking platform that promotes standardisation, and has the capacity to enable automated and seamless upgrades.
With this in hand, and with Ultradata’s 24/7 end to end technical support, CDF has significantly reduced its organisational risk, and will be a large contributing factor in CDF’s overall business success.”
Mr. David Brown |General Manager | Catholic Development Fund