Banking on Long View Systems to enable them to make a successful transition to the cloud, EQ Bank is the first fully digital Canadian financial institution to deliver a new and better way for Canadians to do their banking
At its inception in 1970, Equitable Bank provided residential and commercial real estate lending services. Fifty years later EQ Bank – which is the nation’s 9th largest independent bank, has more than $31 billion in assets under management and is the first Canadian bank to migrate its core banking system to the Azure Cloud.
Working side-by-side with Long View Systems for four years EQ Bank was able to make the first and fastest cut-over of a core banking system to the cloud ever completed in Canadian banking history: only 18 months from strategy to launch.
Through their partnership with Long View, EQ bank now offers completely digital, branchless services, enabling them to meet their mission goal of delivering better, safer, easier and more intuitive ways for Canadians to do their banking.
- The approach to security is different today now that security breaches are reaching all-time highs
- Business leaders must assume attackers are in your walls or trying to get in which means that the approach to security is not just building higher or more walls
- While the benefits of moving banking to the cloud are self-evident, challenges with security are even greater than they are within a traditional IT infrastructure
- Tapping into Long View’s deep experience and expertise EQ Bank was able to develop a solid plan to move to the cloud
- In executing that plan, EQ Bank selected Microsoft Azure as the cloud platform for its banking services
- The migration of their core banking system creates a flexible platform that allows EQ Bank to create and offer more products to their customers quickly and at scale
- Azure comprises security at its core, and private data and services remain secure and protected within the Azure cloud
- EQ Bank was able to achieve its core mission to always deliver better, safer, easier and more intuitive ways to bank in Canada
Download the case study here.