NAB tech transformation on track
The National Australia Bank (NAB) has told shareholders today that it is on track with its core banking transformation project, and it listed a number of key projects that it intends to complete this year.
NAB's investor presentation plotted the timetable of the core banking refresh, dubbed "Next Gen", right through to the end of the year.
By the end of the 2012 financial year, NAB aims to build out its customer relationship-management (CRM) and single customer-view systems, test a new credit-risk engine and launch a new private client platform.
NAB will also continue to work on its payment system replacement and contact-centre voice infrastructure project, which the bank says is near completion already.
So far, in 2012, NAB has signed for a new "secure technology datacentre", which will come on-stream in 2013, and has successfully implemented the foundation of its new banking platform — a foundation that was promised by chief executive Cameron Clyne, last year.
Clyne announced today that the bank made a half-yearly profit of $2.83 billion for the period ending 12 March.