Cloud‑native system will sit at the heart of SBS’s retail operations
SBS Bank has kicked off a major core banking overhaul that is set to reshape how the mutual lender serves home loan customers and advisers across New Zealand, with a multi‑year programme aimed at delivering a more digital‑first experience, quicker onboarding, simplified servicing and stronger operational resilience.
The Invercargill‑headquartered mutual has appointed Deloitte New Zealand as implementation partner for its core upgrade, following the bank’s decision to adopt Engine by Starling, the Starling Group’s global banking Software‑as‑a‑Service platform.
The new, cloud‑native system will sit at the heart of SBS’s retail operations, supporting mortgages, deposits and everyday accounts.
SBS said the move to Engine is expected to deliver “world-class digital onboarding, accounts, and smart money management features” via a new mobile app, while also streamlining back‑office processes and reducing complexity for teams.
The shift comes as New Zealand banks step up efforts to replace ageing legacy cores with modern cloud‑enabled platforms. Recent industry analysis notes that some local systems are “ancient” by technology standards and are now being upgraded to support AI‑driven analytics and real‑time customer experiences.
Deloitte brings Converge toolkit to SBS programme
As implementation partner, Deloitte will provide delivery expertise across banking transformation and large‑scale technology modernisation.
Partner Grant Frear said the project is about preparing SBS for the next phase of digital banking.
“We’re proud to support SBS Bank on this significant modernisation journey,” Frear said.
“This programme will enable SBS Bank to deliver exceptional digital experiences to its members while building the operational resilience and agility required for the future of banking.”
Deloitte will also bring its Converge BankingSuite – a composable set of industry‑ready capabilities – to help SBS introduce new digital services faster, reduce development effort and scale innovation more effectively.
“Deloitte’s global transformation capability, combined with local expertise, means we are uniquely positioned to help bring this vision to life,” Frear said.
Towards a more future‑ready bank
SBS group chief executive Mark McLean (pictured) described the transformation as a major step in the bank’s evolution.
“We’re pleased to be working with Deloitte, building on our existing relationship and their proven expertise, as we focus on becoming a more resilient and future-ready bank,” McLean said. “Together with Engine by Starling, we have a strong partnership in place to deliver better experiences for our members, communities, and more modern ways of working for our teams.”
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