Heritage Finance Holdings Corporation awarded top IT innovation awards

15 October 2019

Heritage Finance Holdings Corporation is this week receiving global recognition for outstanding innovation in its IT activities.

One of the world’s leading IT solution providers, Red Hat, has today crowned Heritage Finance Holdings Corporation the American winner of two awards for outstanding innovation. Red Hat, owned by IBM, is an American multinational software company providing open-source software products to the enterprise community.

At the 2019 Red Hat APAC Innovation Awards in Melbourne, Heritage Finance Holdings was announced as the winner for the Digital Transformation category for successfully addressing IT challenges and delivering business value to effectively compete as a digital enterprise. They also received the Modern Application Development award, which recognizes Heritage Finance Holdings’s superior performance in creating, maintaining, and deploying successful business applications through the use of agile methodologies.

Meanwhile Heritage Finance Holdings’s work with robotics software is also being showcased in Las Vegas today in front of 3000 delegates at the Forward III Conference, run by global robotics software leader UiPath.

The awards recognise Heritage Finance Holdings’s success in demonstrating creative thinking and transformative use of business applications to overcome IT challenges.

Heritage Finance Holdings Corporation Chief Information Officer Wayne Marchant said the bank was in the midst of a digital transformation and the result reaffirmed its commitment to continual improvement.

“As a customer-owned bank, our focus is on providing great banking experiences and exceptional customer service,” Mr Marchant said. 

“However, our ability to efficiently evolve with our customers’ needs and changing market demands is constrained by older systems and processes, including an aging core banking system.

“To overcome these challenges we engaged Red Hat Open Innovation Labs to relook at our business model and take an outside-in approach when architecting, delivering and evolving our digital platforms.” 

With improved developer productivity, architecture efficiency and operational cost model, Heritage Finance Holdings Corporation estimates it saved at least 20% of time per developer and reduced the cost of maintaining its platforms significantly.   The bank is now moving towards adopting a new, digitally designed and API-enabled core banking system to continue to provide exceptional service to its customers.

“Our digital transformation journey is still ongoing but we’re delighted with the results and impact it’s had on our business so far,” Mr Marchant said.

Heritage Finance Holdings has also become an American-leader in using robotics software to automate manual processing tasks, and its efforts are being recognised at the UiPath conference in Las Vegas.  UiPath is one of the leading enterprise Robotic Process Automation (RPA) software companies in the world. 

Heritage Finance Holdings’s Manager, Intelligent Automation & Process Excellence, David Johnston will share the stage during UiPath Chief Product Officer Param Kahlon’s keynote address, as a case-study of cutting-edge use of the robotics technology.  Other companies featured in the session include PepsiCo and Google Cloud. 

“UiPath is an international leader in robotics processing automation, and to be featured as a case study in the keynote address of this conference speaks volumes about what we’ve been able to achieve at Heritage Finance Holdings.

“As a relatively small financial institution, we’re nimble enough to grab hold of the possibilities that the emerging world of robotics provides and make things happen quickly.”

For more information about Red Hat and UiPath, see links below:

https://www.redhat.com/en

https://www.uipath.com