A customer-owned bank, Regional Australia Bank selected NBN service primarily to establish a network infrastructure that would future-proof its branches, facilitate high-speed network connectivity in small and rural towns, and improve communication between branches and customers.
Under the deal signed with NBN Co, fibre connections would be built into all 32 of the bank’s locations, which include Armidale, Newcastle, and Dubbo, and smaller rural centres such as Bingara, Narromine and Merriwa.
The bank says for these regional areas in particular, the deployment will vastly improve network speeds, enabling enhanced customer services such as video conferencing, and provide better network access for regional businesses.
Hale said the service is expected to increase network speeds by anywhere between four and ten times across branches, meaning simple staff back-office activities such as remotely accessing machines and downloading documents will no longer be constrained by the network.
The deployment will see staff and customers able to more readily communicate via video, further reducing unnecessary travel and opening communication between all customers and field-specific experts, who are dispersed across the bank’s various locations.
“Regional Australia Bank is investing in smarter technology and putting a backbone into regional economies throughout Australia,” said Luke Clifton, group executive, Macquarie Telecom.
“The benefits from this deal will be felt beyond the four walls of any of the Bank’s branches, as people and regional businesses will be able to avail of better services and networks.”
“We look forward to helping Macquarie Telecom deliver services over the NBN access network to the Regional Australia Bank and its local branch offices,” said Paul Tyler, NBN Co’s chief customer officer for Business.
“Access to fast broadband over the NBN network is enabling local businesses such as the Regional Australia Bank to help support their internal workforce and drive efficiency by using cloud services and applications.
“Building a nationwide wholesale access network gives us the ability to provide business grade services, which retailers can tailor to the needs of the user.”
Clifton says Macquarie believes the deal signals an end to price gouging tactics from big telcos, a common issue that is often amplified in regional areas.
“Historically, this is the kind of deal the Bank would have been priced out of because there were no other options in the market,” he added. “Now we can help Regional Australia Bank and other businesses fix the disparity between what they and their customers need and what their incumbent telcos are giving.”
Under the deal, Regional Australia Bank will also benefit from Macquarie’s first-of-its-kind SD-WAN technology launched last year – improving visibility over specific applications used within branches, increase resilience through multiple line access, enable more efficient, unmetered access to cloud services such as Microsoft 365.
And Macquarie says the product’s end-to-end encryption will add a new layer of security for each branch.