Z PE1 (18 Feb 2025)

Question 1

What does FNZ do for nabtrade?

Answer 1

Orchestrates and provides bespoke software for the collection of services that make up nabtrade. Essentially, nabtrade is currently hosted on FNZ (but will be moved to nabone).

Question 2

What services does FNZ orchestrate and provide for nabtrade?

Answer 2

Customer master, secure client portal, cash ledger, etc. to enable trade management, clearing, and settlement.

Question 3

Outline the main reasons internal and external, why NAB is transitioning from FNZ?

Answer 3

• Internally:
• Major architectural changes are required for nabtrade to comply with an AUSTRAC Enforceable Undertaking (EU) and financial crime obligations.
• Nabtrade has been experiencing stability issues.
• Externally:
• FNZ is based on legacy architecture.
• We have ongoing commercial issues with FNZ (FNZ consistently fail to meet quarterly deliverables in term of quality and velocity).

Question 4

As we remove FNZ, we will move to enterprise capabilities for Cash Accounts and Customer Onboarding, while redesigning the user interface. What benefits do we expect from this?

Answer 4

• Reduce our operating costs by $10m per annum.
• Over three years, increase customers by 33% and revenue by $35m.

Question 5

We have considered an approach to retain some elements of FNZ and still comply with the EU – why did we not go with this option?

Answer 5

High cost ($10-15m) into legacy system, increasing tech debt, without delivering the cost savings or revenue benefits that ZIP does.

Question 6

What is the focus of ZIP PE1?

Answer 6

Customer Support > Add On Trading Features.

Question 7

What are the names used for front and back office within Operations Customer Support?

Answer 7

• Front office = Client Services.
• Back office = Admin Portal.

Question 8

Compare Current vs To Be State (Ask) of ZIP Customer Support – Add On Trading Features?

Answer 8

• Current: services delivered using FNZ Admin Portal as main platform, which includes FNZ-based workflow systems. Other supporting platforms includes Telephony systems.
• To be:
  o New platform with similar/equivalent capability as the current Admin Portal.
  o New colleague UX will provide access to the new nabtrade platform and all associated information (Customer Master, Product, etc.).

Question 9

In the future/to-be state, what platform will be used to provide the majority of the Customer Support functions?

Answer 9

NABOne (leveraging a series of mini apps).

Question 10

What 4 Epics are included in PE1 – Customer Support – Add-On Trading Features?

Answer 10

1. ETO Trading
2. Warrants Trading
3. Partly Paid Securities
4. Dividend Crediting.

Question 11

Key dates for PE1 – Customer Support – Add-On Trading Features …. When will detailed biz requirements be completed, and when will PE1 end?

Answer 11

• 28 Feb – detailed biz requirements completed.
• PE1 ends – 4th March.