Displaying items by tag: core systems

The majority of financial institutions including banks are struggling to take advantage of new payment offerings and stronger cybersecurity because their core systems haven’t been modernised, according to a new retail banking report.

Australian mainframe users face a lengthy journey to the cloud, according to Accenture, but it seems that just dipping a toe into the water can be counterproductive.

Westpac - which by rights should have been basking in the glory of launching its Bank of Melbourne operations yesterday - has spent most of today putting out technology spot fires thanks to the suspension of a payments system overnight after a fault was found in one payments batch.

IBM has signed one of its biggest global deals of the year, following big four bank NAB confirming today that it will offload the management of its data centres to the computing giant. Originally scheduled to be signed in November the deal was delayed when NAB's computing systems failed, leaving customers with no, or wrong, account balances for an extended period.

Commonwealth Bank chief executive officer Ralph Norris has delved into the ongoing banking technology debate stressing the importance of real time processing to delivering customer satisfaction - an approach which CSC's chief executive said had led to the bank achieving a 'potentially dominant leadership position.'

The Commonwealth Bank of Australia today reported strong interim results with net profit after tax surging to $2.9 billion for the six months to the end of December - and while it's not all due to IT, the bank's CIO claimed CBA technology now amounted to an 'engine for growth.'