Mutual bank appoints head of tech integration

With the new role and Ms Iverach, the freshly merged financial institution aims to bolster its focus on developing an IT integration roadmap. Ms Iverach brings more than 20 years of experience in technology leadership, digital transformation, major program delivery, and information security to this role.

Prior to joining Heritage and People’s Choice, Ms Iverach led the Greater Bank digital transformation program for Newcastle Greater Mutual Group (NGM Group).

Ms Iverach has commenced her role with the mutual bank as of Monday (8 May 2023), based in Newcastle.

Heritage and People’s Choice CIO Andy Weir said Ms Iverach would be in charge of developing and leading the organisation’s technology integration roadmap.

“With Heritage Bank and People’s Choice officially merging on 1 March, one of the most important challenges we face now is bringing together the organisations’ technology systems to provide a first-class banking experience for our members and our people,” Mr Weir said.

“We’re absolutely thrilled to welcome Penny to our senior leadership team.

“As well as significant delivery experience, Penny brings incredible enthusiasm, a passion for complex delivery and a strong member mindset.” 

Ms Iverach commented on her new role: “I am excited to be joining Australia’s largest mutual bank and to work with a diverse and exceptionally talented group of professionals.

“I consider myself to be very fortunate to be appointed to the role of head of technology Integration for these iconic brands and to be part of the next evolution of Heritage and People’s Choice as we continue to build and deliver exceptional products and services to our member community.”

March merger ‘milestone moment’

Queensland-based Heritage Bank and Adelaide-based People’s Choice Credit Union officially completed a merger at the beginning of March this year.

The merged entity created a national member-owned banking organisation with 720,000 members, 1,900 employees, $23 billion in assets, and 95 branches across South Australia, Victoria, NSW, Queensland, and the Northern Territory.

Current chief executive Peter Lock said at the time of the announcement that the merger was a “milestone moment” for the Australian banking sector.

“We’ve brought together two of Australia’s most successful customer-owned financial institutions to create a strong national mutual alternative to the big banks,” Mr Lock said.

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