Banking technology firm Ultradata Australia has acquired secure digital marketing agency Vermilian.
Vermilian will now become a subsidiary of the Ultradata group to support the delivery of Ultradata's strategy.
According to a company statement, the investment will accelerate online retail banking innovation in an era of increasing customer expectations and competition.
"The combined resources of the group will remain firmly focused on delivering cost-effective banking solutions," according to a company statement.
"Vermilian's strategy will continue to include online channel management and innovation in the areas of smartphone apps, personalised campaigns, online forms, website and intranet development."
Ultradata will assist with straight-through processing, loan approval, and a range of retail banking solutions.
Ultradata chief executive, Peter Henshaw, said combining Vermilian's expertise in design and deployment in the digital space with Ultradata's world class banking systems would create an exciting solution for the financial services sector."
Former Vermilian director, Anthony Voigt, said the future of retail banking would be driven by customer-led innovation and the use of new-generation online systems that could be accessed via phone, tablet, desktop and emerging portable devices.
"Our close association with Ultradata will help our clients make the leap from digitally-enabled to fully-integrated digital enterprises, with systems and processes built around, not the other way around."