S&P Global Ratings and Fitch Ratings have assigned ratings to some of the five classes of notes, totalling A$300 million, issued as the ABA Trust 2017-1 as a securitisation of prime residential mortgages originated by Auswide Bank. The top tranche, the $270 million Class A notes, were rated AAA(sf)/AAAsf by S&P and Fitch, respectively. The total collateral pool consisted of 1,214 borrowers, totalling A$297 million, at the 31 May 2017 cut-off date, according to a note from Fitch. Cloud-based business process management software provider Promapp has won a contract to support the digital process innovation project at New Zealand's Credit Union South. Trading as NZCU South, the credit union has been in business for 54 years and has assets of around NZ$133 million and a membership of just over 20,000 served by 74 staff. "Later this year, we're also deploying a new Oracle core banking platform; we saw this as the perfect opportunity to implement a streamlined [system] which can effectively capture all of the processes for this new system in a single repository," said Eddie Steven, Innovation Manager at NZCU South.