Queensland Country Bank selects Fiserv and VeriPark to replace its core banking system

By Divya Shah

Why it matters: This deal highlights growing demand for cloud-native core banking platforms as financial institutions move away from legacy infrastructure. For FinTechs and banking technology providers, it signals continued investment in platform modernisation, open integration capabilities and digital customer experiences.

Queensland Country Bank has selected Fiserv and VeriPark to modernise its banking technology infrastructure, replacing the core banking and digital banking systems it has operated since 2016. 

The Australian member-owned bank will deploy Fiserv’s Finxact core banking platform and Vision Next card management solution, alongside front-end technology from VeriPark covering digital banking, customer relationship management (CRM) and loan origination. 

While the partnership was initially announced in August, additional details regarding the implementation have since been shared by David Ortiz, Chief Experience Officer at Fiserv, who said the project is intended to modernise the bank’s technology environment through a phased approach. 

David Ortiz, Chief Experience Officer at Fiserv, said the programme aims to progressively upgrade key platforms, reduce complexity across the technology stack and support a planned transition for both customers and employees. 

The implementation timeline was not disclosed. However, Finxact has previously been deployed by other financial institutions in relatively short timeframes, including a rollout for First Horizon Bank’s digital banking brand, VirtualBank. 

Queensland Country Bank serves more than 100,000 members across Queensland, offering personal banking, business banking and insurance services. The bank reported total assets of approximately AUD4.3 billion during the last financial year. 

The institution completed its transition from a credit union to a bank in 2020 and is led by Group CEO Aaron Newman. The transformation programme is being overseen by Chief Transformation Officer Shawn Anderson. 

Queensland Country Bank is to replace the DA CBS and DA Digital Banking platforms supplied by Australian banking technology provider Data Action, which were implemented in 2016. 

The modernisation initiative reflects a broader trend among financial institutions seeking cloud-native core banking platforms that can support faster product development, digital service delivery and operational efficiency.