The Commonwealth Bank’s mammoth core modernisation program helped it claim the title of the country’s first ‘real time’ financial institution, but there is still more to do to move some of CBA’s systems away from batch processing according to Pete Steel.
banks - News, Features, and Slideshows
Westpac's technology expenses grew 12 per cent in the 12 months to 30 September to $1.75 billion, the bank revealed today.
Customers of 200 financial institutions in Australia were targeted by botnets between January 2014 and March 2015 according to a new report by Dell SecureWorks.
Westpac is rolling out videoconferencing to its branches around Australia to remotely connect small businesses with financial experts at the bank’s headquarters.
Major Australian banks have made mobile payments a priority tech initiative and are in various stages of rolling out technology that lets customers pay with smartphones. Commonwealth Bank and Westpac are so far leading the pack, but ANZ Bank and National Australia Bank (NAB) say they are planning to make their own moves soon.
Whitepapers about banks
Outsourcing has become a critical component of management of financial institution operations. Consequently, the Office of the Controller of the Currency (OCC) and the Federal Reserve Board (FRB) recently issued guidance on how financial institutions should manage third-party risks. • Institutions are outsourcing increasingly complex and sensitive banking and financial operations to third parties • The guidance issued by each agency has particular relevance to outsourcing transactions and provides companies with a roadmap of the key areas of concern to regulators • Many of the suggestions in the OCC and FRB guidance concern provisions of outsourcing agreements where vendors often push back
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