Discussion

AMP Bank GO: One year on

By Team Engine

Last February, AMP Bank GO launched into the Australian market with a clear ambition: to create a modern digital bank designed around the realities of everyday customers and the needs of Australia’s small businesses. One year on, it’s a moment worth reflecting on, both for what has been achieved since launch and for what it took to get there.

Building a new digital bank in 12 months

Launching a brand-new digital bank is never a small undertaking. Doing so for one of Australia’s most established and trusted financial institutions makes it even more significant.

AMP set out to build a banking experience that could stand confidently alongside its heritage; secure, resilient, and trustworthy, while also meeting modern expectations for speed, simplicity and digital-first design. From day one, the goal was clear - to move fast and without compromise.

From project kick-off in October 2023, AMP Bank GO was built in just 12 months utilising Engine’s market-leading SaaS platform, going live to all AMP staff, friends and family the following year, and launching to the public a few months later. Delivered on time and on budget, with implementation support from PwC, it stands as a testament to what’s possible when ambition is matched with the right technology and a genuinely collaborative partnership. The full delivery story is captured here, but the headline achievement speaks for itself: a production-ready, scalable digital bank, live in a year.

The launch also introduced several market-firsts, including Australia’s first numberless Mastercard debit cards for small business, which clearly reflected how seriously AMP Bank GO took customer safety from the outset. Combined with a strong emphasis on fraud prevention and security controls such as biometric identification, these foundations meant customers could bank with confidence from day one.

Designed for real life, not just launch day

While building quickly was critical, building well mattered more. The bank was designed around how people actually bank, especially small business owners who rarely have the luxury of spare time.

From intuitive mobile experiences to thoughtful security features, the proposition focused on reducing friction, simplifying daily banking, and giving customers greater control over their money. The programme was about getting the fundamentals right and creating a platform that could grow with customers over time.

That approach has shaped everything that’s followed since go-live.

A year of momentum: growing with intent

12 months on, AMP Bank GO has grown steadily and deliberately, with a focus on being guided by customer needs, and grounded in stability.

With the fundamentals in place, the team's story is one of discipline and deliberate decision-making. Rather than trying to be everything to everyone, AMP Bank GO focused on doing the essentials well, and earning trust through consistency. This clarity of purpose shaped what launched, what didn’t, and how the platform was designed to evolve over time.

The bank continues to grow, indicating strong customer trust and everyday usage. Customers aren’t just opening accounts – they’re actively using them to run their businesses and manage their everyday finances.

Customer satisfaction tells a similar story. With a customer satisfaction (CSat) score of 8/10 and customer feedback consistently reflecting strong ease of use, reliability, and peace of mind, exceptional service is key to AMP Bank GO. Just as importantly, feedback has also highlighted where improvements are needed, shaping what the team prioritises next.

Powering Australia’s mini businesses

At the heart of AMP Bank GO’s mission are the customers it serves - particularly Australia’s small and “mini” business owners.

These are people juggling invoices between meetings, managing cash flow on the move, and often switching between personal and business finances throughout the day. The bank was built to fit into that reality – adapting to customers, not the other way around.

Over the past year, customers have used AMP Bank GO to simplify daily money management, gain clearer visibility of their finances, and spend less time on admin. For many, that’s meant more time focusing on their business, or simply fewer headaches at the end of a long day.

These customer stories, repeated across trades, services, and growing micro-businesses, underline the real impact of digital banking done well: modern but practical support where it counts.

Evolving the proposition post-launch

Crucially, launch day was only the beginning.

Over the past year, AMP Bank GO has continued to expand its offering, introducing new lending products designed to support small business growth and day-to-day cash flow needs. Other new features have included fixed term deposits, to help customers better manage their savings, and joint accounts to ensure the proposition works for different financial needs. 

Strategic partnerships have also played a key role, including integrations with Xero to simplify accounting and reconciliation, and collaborations with Qantas that align with how customers live and work, rewarding them where it matters.

Each addition has been guided by customer needs, reinforcing the team's focus on supporting everyday banking with a digital-first mindset.

Security that earns trust every day

Security has remained a defining pillar throughout AMP Bank GO’s first year. From the numberless debit card to ongoing fraud protection measures, customer safety is not a background feature. It has been integral to the bank’s design and built into the experience in ways that customers can see and feel, helping to build confidence not just at onboarding, but every time they transact.

Looking ahead

As the bank enters its second year, it does so with strong foundations, a growing deposit base, and a clear sense of purpose. The focus remains the same: support small businesses and everyday customers with banking that fits seamlessly into their lives, evolves thoughtfully, and earns trust over time.

For Engine, AMP Bank GO is also a powerful example of what our cloud-native banking platform and customer-led challenger culture can enable. With the right technology and a true partnership approach, AMP has been able to launch a new, cloud-native digital bank at speed and evolve to meet customer needs without losing sight of the bank’s essential DNA, which prioritises value and transparency. Banks can launch new propositions, like AMP’s move into SME-focused digital banking, at speed, without sacrificing quality or control.

One year on, AMP Bank GO’s journey continues to inspire and we’re proud to be part of it.