Australia and New Zealand Banking Group's technology costs rose $16 million over the past year, according to documents released this week, largely due IT contractors hired to upgrade its risk management systems.
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The National Australia Bank yesterday met union representatives to discuss the future of IT staff who might still be needed at the bank following its decision to suspend work with Indian IT outsourcer Satyam.
Australia's central bank has criticised the nation's four largest commercial banks for shirking on investments in payment systems technology, resulting in a lack of innovation and neglect of systems like EFTPOS.
Macquarie Bank has teamed up with finance news aggregator Wotnews to deliver a new retail online trading platform.
Security experts are warning Bank of India customers to steer clear of its official Web site because it is serving up several information-stealing Trojans.
The Australian Bankers Association says it won't be following New Zealand's lead after its Kiwi peer opted to make users of online banking held liable for Internet fraud.Earlier this month, The New Zealand Banking Association introduced its 2007 Banking Code of Practice, which leaves customers potentially liable for losses when cheated of their funds by online fraudsters.
National Australia Bank took the knife to its long-time chief information officer Michelle Tredenick this week, but was this a reflection of her perceived incompetence or simply a consequence of the manoeuvring at higher levels that seems endemic in Australia's incestuous banking IT community?
Commonwealth Bank of Australia today revealed its technology costs had continued to fall, down $30 million from the previous half-year to $380 million.
Following a disappointing half-year result, ASX-listed IT consultancy Oakton has put its enterprise resource planning (ERP) business under a microscope.
Local bank Bankwest has sold back to Unisys the 49 per cent stake it held in Unisys West, a Perth-based IT outsourcing company jointly owned by the pair.