Westpac is in serious damage control after its Internet banking service collapsed today, leaving 750,000 customers stranded.
A sophisticated online phishing scam which hit Westpac has been scuttled but it's unclear if customer accounts were compromised.
Most Australian banks ramped-up their online service offerings in 2001 and are planning further enhancements in 2002. ZDNet Australia evaluates the choices that are currently on offer and takes a glimpse into the future of Internet banking.
Whilst most Australians would still prefer to conduct banking transactions in a branch rather than over the Internet the recent onslaught of increased over-the-counter transaction fees will see the tables turn, putting the Australian public just where the banking behemoths want them - online.
Information communications systems at Westpac Australia were down this afternoon, affecting ATMs, branches, and Internet banking countrywide.
Westpac, one of the biggest banks in Australia, experienced multiple hardware failures on Monday and at the end of last week, which caused its online banking service to fall over for hours at a time. What happened to its backup systems?
Get an insider's look at the recent history and potential imminent future of the technology operation of Westpac Banking Corporation and its subsidiary St George in the last of our Changing of the guards series examining generational change in the nation's big four banks.
It is quickly becoming the norm for Australia's largest banks to offer discounts on or completely free computer security software to boost internet banking security. The question is, why?
Security weaknesses in Microsoft's server and browser software are taking their toll on Australian Internet banking sites.
Get an insider's look at the recent history and potential imminent future of Australia and New Zealand Banking Group's technology operation in the third of our Changing of the guards series examining generational change in the nation's big four banks.
Oracle will acquire Siebel Systems for US$5.8 billion. The long-predicted buyout will have interesting ramifications on the Australian market.
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