New non-exec director recruited to Bendigo and Adelaide Bank board

Alistair Muir is currently the managing director of advisory business Vanteum, and non-executive director for the lenders’ mortgage insurance business Genworth Mortgage Insurance Australia.

He will commence his role as a non-executive director on the Bendigo and Adelaide Bank board on 12 September 2022. 

In his board position, he will provide the bank with perspectives on digital strategy, innovation and transformation.

Mr Muir has almost 20 years of experience in finance and technology space, having advised the governments of three countries on fintech and digital solutions. He is also an experienced digital executive and entrepreneur.

He previously held the position of non-executive director of diversified financial services business Humm Group and has worked with a wide range of ASX 50 and Fortune 500 companies to launch new digital products and ventures, notably Apple Music in Australia.

Mr Muir has also supported the development of more than 30 new companies from emerging technology in conjunction with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) as well as other publicly funded research institutes.

Speaking of the new appointment, the chair of Bendigo and Adelaide Bank, Jacqueline Hey, commented: “Alistair’s digital experience with a range of companies in the financial services and payments space is impressive and highly sought after.

“He is perfectly placed to assist the bank and help us achieve our vision of becoming Australia’s bank of choice,” she said.

Mr Muir said he was “delighted” to be joining the bank at “such an exciting time in their digital and transformation journey”.

“The bank has taken a number of significant steps in recent years and I look forward to playing a role as it continues on its path to becoming a bigger, better and stronger bank,” Mr Muir said.

Bendigo and Adelaide Bank has been working on its technological offering in recent months. It confirmed a partnership with Sandstone Technology earlier this year, integrating the fintech’s loan origination platform in order to introduce a “one-platform, one process” approach to loan processing.

The decision to align with Sandstone Technology came after its third-party banking division recognised a need to “transform and remediate” its loan processing systems, according to the bank.

The bank said at the time that the decision to improve loan processing was built around automation and simplification, with the bank deciding to introduce the eligibility rules and lending criteria filters with Sandstone’s LendFast platform.

[RELATED: Bendigo and Adelaide confirms partnership with Sandstone]