Synpulse, a global management consultancy, has successfully completed Phase 2 of Judo Bank’s core banking transformation, marking a significant milestone in the bank’s modernisation efforts. Over seven months, Synpulse collaborated with Judo Bank to design, build, and migrate term deposit products onto a new core banking platform powered by Thought Machine. This phase, which began with a discovery phase in September 2024, included the migration of approximately 63,000 accounts and a subset of loan accounts from a legacy platform.
The transformation enables Judo Bank to retire a key legacy platform by mid-2025, significantly improving operational efficiency and reducing technical debt. Rahul Bansal, Partner and Global Head of Retail and SME Banking at Synpulse, highlighted the importance of this phase, stating, “Phase 2 was all about building on the momentum of the first phase—extending the platform’s capabilities with term deposits and completing critical migrations.”
Judo Bank, Australia’s first purpose-built challenger bank for small and medium-sized enterprises (SMEs), now operates a unified core banking system that supports both lending and deposit products. Rosanna Fornarino, Chief Operating Officer at Judo Bank, noted, “This gives us the flexibility to innovate faster, operate more efficiently, and deliver even better outcomes for our customers.”
The successful completion of this phase underscores Judo Bank’s commitment to modernising its technology stack and delivering customer-first banking through a robust, future-ready platform. Synpulse’s role in this transformation also strengthens its presence in the Australian market, paving the way for further innovations and collaborations.
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