In the wake of the confirmed AU$18.6 billion merger between Westpac and St George Bank, observers have forecast that the IT hangover from the deal could take at least three years to wear off, but in the process the merged banking entity will become one of the largest IT shops in Australia.
It is more important for online banking to make customers feel secure than make those customers actually secure, according to the head of technology at Commonwealth Bank's New Zealand subsidiary, Auckland Savings Bank (ASB).
Security experts have hacked ATMs to show how easy it is to steal money and bank account details from modern cash machines.
ANZ launch M-Banking, allowing customers to make a variety of bank transactions from any Java-enabled mobile handset.
The CSIRO has developed a tool it says will prevent criminals snooping online communications, but hacking experts say the system is not foolproof.
St George is joining the ranks of financial institutions taking up two-factor transaction authentication to protect its customers from fraud.
Security firm F-Secure has discovered a password stealing trojan targeting Commonwealth Bank users -- and the malware isn't being detected by the free antivirus software the bank is offering its online users.
Westpac Bank is set to improve its security credentials and tackle card swiping scams by issuing credit card holders with chip-embedded smartcards.
SMS-based two factor authentication has been touted as a way of improving online banking security but Westpac's head of information security disagrees.
NAB is planning an upgrade to its Internet banking platform that will include targeted cross-selling of products to users of the service.
Internet advocacy group InternetNZ and the NZ Consumers' Institute have both come out swinging over the New Zealand Bankers Association's (NZBA) decision to allow victims of Internet banking fraud to be potentially held liable for losses.
Should Australians be worried that NZ bank customers are being used as "lab rats" to see if users could be made liable if they fall victim to online fraud?
The Australian Bankers Association says it won't be following New Zealand's lead after its Kiwi peer opted to make users of online banking held liable for Internet fraud.
Just weeks after Westpac's online banking systems were crippled by a Denial of Service (DoS) attack, it is warning customers about a new wave of hoax e-mails.
Westpac is considering additional security measures for its online banking system after a spate of security and availability dramas.
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