Commonwealth Bank upgrades online banking system

Commonwealth Bank upgrades online banking system

A consortium comprising IBM Business Consulting Services and enterprise banking solutions provider Eontec have secured the contract to upgrade the Commonwealth Bank's online banking service.

The agreement will see IBM Business Consulting Services supplying, integrating and supporting an online banking product supplied by Eontec.

EDS Australia, which helped the Commonwealth Bank select the consortium members, will provide the infrastructure, develop linkages to other bank systems and operate the online banking service on an ongoing basis.

Stuart Bailey, Executive Director of EDS Australia, outlined further what role EDS would play in the project.

“EDS will provide program management, a range of development, testing and application support as well as infrastructure services. In addition, EDS will assume responsibility for the ongoing operation of the new system, ensuring that the new system fully integrates into the Bank’s architectural and operational strategy.”

Hugh Harley, the Commonwealth Bank’s Group Executive, Retail Banking Services, said: "The upgrading of our Internet banking service will ensure that Commonwealth Bank customers continue to have market leading online access and services available. Our online customer base and transaction activity continue to grow rapidly and this upgrade will provide the increased capacity to support future customer growth and will also expand the range of services available online."

Rod Bryan, Financial Services Leader, Business Consulting Services, IBM Australia & New Zealand said: "Combining IBM’s best-of-breed consulting and services with technology from Eontec, this upgrade offers customers and expanded range of benefits and provides the Bank with increased capacity to support future growth and opportunity in the increasingly competitive on-line banking market."

Meanwhile, David Jones, Eontec's Managing Director for Japan, Asia Pacific, commented: "We have worked closely with IBM Business Consulting Services and the Commonwealth Bank to ensure our online banking module of our multichannel banking software product will satisfy the current future needs of the Bank's online banking customer base."

The Commonwealth Bank currently has around two million online customers.

The new service will be launched in the second half of 2004.

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