Insignia Financial is consolidating its technology systems following a series of mergers and acquisitions, while also setting itself up to become an AI-enabled organisation.

The Australian financial services company, formerly known as IOOF, completed the separation of MLC in 2021 from NAB, resulting in the company no longer being dependent on the major bank's systems and technology.

The transition saw 700,000 MLC MasterKey and Plum accounts, alongside other systems and over 100 terabytes of data, moved from NAB to Insignia Financial.

Damien O'Donnell, who stepped into the CTO role at Insignia Financial in January, told the iTnews Podcast that “data and technology” system consolidation is key to realising its ambitions.

“We've acquired a lot of duplication of systems and tooling from

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