18 August 2017
Find out more

ANZ sets up technology risk function; ditches Windows transaction switching project

27 April 2004  |  5226 views  |  0 ANZ

Australia and New Zealand Bank has scrapped an ambitious project to deploy Microsoft Windows software for ATM and POS transactions and has set up a technology risk management committee to scrutinise large computer projects.

The bank says the new risk management function has been established "to provide additional focus on large and high-risk technology projects".

The move comes as the Australian bank looks to strengthen its approach to operational risk in the run-up to its merger with the National Bank of New Zealand.

It follows the appointment in September of Mike Grime from Standard Chartered as managing director, operations, technology and shared services. Local press reports say Grime decided to axe to the bank's 'Next Generation Switching/Tandem' replacement project because of NBNZ integration issues.

In its interim results statement, ANZ says it has written off a total AU$30 million in capitalised software on the project "as it became apparent that expected benefits would not materialise".

The move is a big blow to Microsoft. ANZ's decision to replace its Tandem mainframe with an S2-supplied SQL Server/Windows 2000 system was hailed as a major breakthrough for Microsoft in the mission-critical transaction processing space when first announced in August 2001. At the time, ANZ said high support and maintenance costs in the existing proprietary system, coupled with a need to enhance development lead times, compelled it to seek a replacement solution.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Brief: ANZ selects IT&e's Razor for risk management

Brief: ANZ selects IT&e's Razor for risk management

17 October 2003  |  3854 views  |  0 comments
ANZ hires Mike Grime  as MD, operations, technology and shared services

ANZ hires Mike Grime as MD, operations, technology and shared services

24 September 2003  |  2956 views  |  0 comments
ANZ and Kaz form cheque processing joint venture

ANZ and Kaz form cheque processing joint venture

17 July 2003  |  5103 views  |  0 comments
ANZ trials multi-million dollar online mortgage system - Herald Sun

ANZ trials multi-million dollar online mortgage system - Herald Sun

10 July 2003  |  4102 views  |  0 comments
Loyalty programme failings cost ANZ A$27 million

Loyalty programme failings cost ANZ A$27 million

21 February 2003  |  3155 views  |  0 comments
ANZ to replace proprietary ATM and POS networks

ANZ to replace proprietary ATM and POS networks

06 August 2001  |  3640 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.dorsum.euvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7141 views comments | 18 tweets | 22 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
7005 views comments | 20 tweets | 22 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
5889 views 1 | 5 tweets | 3 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
5713 views comments | 11 tweets | 9 linkedin
hands typing furiouslyA Bitcoin and Blockchain payment system
5527 views 0 | 6 tweets | 2 linkedin