Bank of Queensland evolves operations, delivers business value with Microsoft Copilot

With 150 years’ history, Bank of Queensland (BOQ) has long been a trusted name in Australian banking, known for its customer-centric approach to financial services. Headquartered in Brisbane, BOQ offers a suite of services, including banking, insurance, foreign exchange, and equipment finance. Looking to modernize operations, BOQ turned to Microsoft to streamline its processes and improve customer engagement using AI.

The journey to modernization

To adapt to industry trends, BOQ wanted to launch a journey of digital modernization to ensure agility and resilience and build and scale for the future. At the heart of this was the desire to adopt AI-driven solutions through its partnership with Microsoft. “We want to be a forward-thinking, agile organization that is able to leverage cutting edge technologies,” said Craig Ryman, Chief Information Officer at BOQ. “To achieve that, we had to move from complex to simple, and by doing that, create greater opportunities for automation, and better ways to run our business."

The power of AI to optimize processes, empower employees

To drive agility and scalability, BOQ adopted a solution that included Copilot, Microsoft Azure, and Microsoft 365. Copilot, the AI-powered tool integrated across Microsoft 365 apps and services, is designed to enhance productivity and decision-making with speed and accuracy.

Using advanced natural language processing and machine learning, Copilot enables BOQ employees to automate processes for drafting reports and manuals and building financial models. It also integrates securely with the company’s enterprise data, ensuring privacy and streamlining compliance—a top priority for BOQ.

During training, BOQ employees were encouraged to share feedback and use it to refine how they used Copilot. Hayley Watson, Head of Enterprise Capability at BOQ, remarked, “Copilot puts the power in the hands of the employee to be able to find efficiency.” By simplifying BOQ’s complex workflows and providing real-time recommendations, Copilot has enabled the company to improve customer service, boost operational efficiency, and continue to innovate in a competitive market.

As Microsoft emerged as a market leader in generative AI innovation, BOQ began discussing how to optimize its relationship with Microsoft and adopt Copilot as the foundation of its move into AI. Ultimately, BOQ opted in to Microsoft 365 Copilot to achieve improved data insights, assist in better decision making, and improve efficiency and productivity.

Achieving high value with low risk

The benefits of using Copilot have been transformative for BOQ. The company has streamlined processes and enabled its workforce to shift focus to higher-value activities. The low-risk, scalable approach BOQ used empowered employees to confidently use Copilot in their daily tasks.

With Copilot, BOQ experienced significant gains in productivity, helping accelerate its broader digital transformation. Copilot assists project managers with tasks like note-taking and building meeting summaries, saving at least two hours per activity. The risk analysis team uses Copilot to streamline the production of analyses from weeks down to a one-day process, while also back testing work to ensure confidence in Copilot's outcomes. In HR, Robert Wilson, Group Chief Technology Officer at BOQ reports that, “[Our users] went from a process which was taking them weeks, to spending maybe 10-15 minutes.”

“Copilot just adds a superpower,” said Peter Adolphus, Senior Manager, Transformation and Portfolio at BOQ. “Something that, you know, you'd normally spend 45 minutes on, you spend two minutes on, and then maybe three minutes refining.”

Completing root cause analyses (RCA) improves BOQ’s ability to identify and manage risks Using Copilot has reduced the company’s analyst time on RCAs by 51.8% and provides a 22% boost in the quality of their findings, helping the company maintain the highest standards of customer satisfaction and operational excellence. BOQ estimates that equipping 1,000 employees with M365 Copilot will enhance productivity equivalent to adding 120 new employees.

Looking ahead: Advancing productivity and the customer experience

Looking ahead, BOQ has developed an ongoing strategy that includes expanding Copilot adoption for customers and its end users. For end users, this will enhance user training and develop champions to optimize Copilot use for continued productivity and growth. For customers, integrating Copilot into all of their touch points with the company will improve and enhance their experience, building deeper relationships through best-in-class customer service.

Powered by enterprise data and customized via Copilot Studio, agents will automate tasks, deliver actionable insights, and help BOQ users make informed decisions. “ The power of Copilot agents will help us to identify and deliver on opportunities faster. ” says Bernadette Demasi, Head of Partner Programs, Group Tech at BOQ. “Using agents in the future to assess workflows will be a powerful thing for our customers, giving them the services and support that they need, when they need it.”

By streamlining workflows and ensuring secure, compliant operations, Copilot and agents promise significant productivity gains—helping BOQ deliver exceptional customer experiences and long-term loyalty.