(28 April 2008 – Australia) CBA has announced that it will spend $A580 million on modernising legacy banking systems over the next four years.CBA has selected SAP for Banking Solutions based on SAP’s technology platform, NetWeaver. It has also appointed Accenture to support the implementation of the programme.
The intent from CBA is to provide a customer centric platform that enhances the way that CBA provides services to its customers and the way it does business.
In return for the projected $A580 million cost, CBA has said that the project will deliver a better customer service platform and simplicity in IT systems, infrastructure and business services.
CBA also said the overhaul will also provide significant operational benefits and cost savings.
Michael Harte, the Group’s Chief Information Officer said that the programme will see the removal of the current legacy systems that have supported the bank for over 45 years.