ANZ to replace online banking system

ANZ to replace online banking system

Munir Kotadia, ZDNet Australia
March 16, 2006
URL: http://www.zdnet.com.au/news/security/soa/ANZ_to_replace_online_banking_system/0,2000061744,39246149,00.htm

The Australia and New Zealand Banking Group (ANZ) will replace its online banking system later this year in an attempt to improve security and add new functionality. An ANZ spokesperson said on Thursday that the bank plans to push the new service live by the middle of this year.

“The whole system is going to be replaced in a couple of months. The first implementation will be a mirror of our current functionality — as we stabilise the new system. We will then look to add functionality. It is a bit early to say when it will hit but certainly in the next three or four months,” the spokesperson told ZDNet Australia .

I was on the phone with the “Project Tiger” folks from ANZ about 16 months ago. Interesting decision process. I believe they chose to completely outsource development to India and buy a “black box” designed for their requirements. Clearly the low cost strategy for initial development, but will it provide the needed long term TCO savings and flexibility they need to compete?

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