Suncorp cites IT integration progress

Suncorp's massive project to integrate technology it inherited through its acquisition of Promina was progressing strongly, the banking and insurance giant said today.

Suncorp CEO
John Mulcahy
(Credit: Suncorp)

Suncorp's CEO John Mulcahy commented on the IT integration as he issued a market update this morning, detailing the banking and insurance giant's handling of current market woes hitting the financial sector.

"The technology integration is going very strongly," Mulcahy said during a conference call, responding to a question from ZDNet.com.au.

"We have switched over major infrastructure that has had to be done," the executive added.

A spokesperson for the bank said it has completed major migrations and consolidations of "specific platforms".

"They're done and dusted," they said. Further information was not immediately available.

Suncorp has been consolidating its mainframe systems as well as moving its ageing datacentre to a new location.

The bill for the integration, which is set to be completed in June 2010, is estimated at AU$161 million, but the group also expects to generate AU$325 million in cost savings from the merged businesses.