NAB has announced the first phase of its Next Generation Platform initiative to replace its core-banking systems this morning, naming Oracle its partner.
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.
National Australia Bank has agreed to enter mediation with the developer of an electronic trading system which sued the bank for more than AU$50 billion in Australia's largest ever corporate claim.
NAB is planning an upgrade to its Internet banking platform that will include targeted cross-selling of products to users of the service.
National Australia Bank this morning said it was in discussions to buy the local arm of Dutch investment bank ABN AMRO, in a move that could enlarge NAB's IT support operation, already one of the largest in Australia.
The National Australia Bank has taken a pre-tax writedown of AU$409 million on its software assets for the year as botched initiatives such as its notorious global enterprise resource planning project take their toll on the financial institution's full-year bottom line.
Get an insider's look at Commonwealth Bank of Australia's technology operation with chief information officer Michael Harte in the first of our Changing of the guards series examining generational change in the nation's big four banks.
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