AVENUE BANK
19 ushered in a period of uncertainty and upheaval , compelling the bank to confront daunting realities head-on .
When the world was in lockdown , Avenue Bank faced significant hurdles . Tough decisions had to be made , including reducing workdays to manage cash burn , as APRA suspended issuing new licences for banks .
Nicolas says : “ We had plans to launch in 2020 , then Covid hit . We had to make hard decisions and adjust our plans multiple times over the following few years . There was a lot of uncertainty , so we needed to find a way , which we did when we finally launched in March 2024 .”
Nicolas highlighted the necessity of reducing operational costs and Avenue Bank making tough decisions amid the uncertainty surrounding the licencing process and global economic conditions .
Despite the adversity , Avenue Bank remained focused on its goal of establishing a customer-centric banking experience for small businesses , emphasising adaptability and flexibility in its approach .
Establishing a foundation Throughout this unknown period , Nicolas underscores the importance of laying a strong foundation for the bank ’ s cloud infrastructure .
At this time Nicolas ’ s team concentrated on building the foundations of Avenue Bank ’ s cloud-based architecture .
“ We had time and it was low-cost and crucial for getting things running ,” he notes . “ Working with AWS solutions architects allowed for research and
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