Banking News

Commonwealth Bank wins IT project recognition

(Australia) - Amalgamating the disparate systems of Australian bank, Commonwealth Bank of Australia (CBA) and Colonial Retail Bank, within in three months, has won the Bank the award of "IT project of the year". Chosen from eight finalists at the Project Management Achievement Awards (PMAA), the CBA was presented with the New South Wales project of the year award by the Australian Institute of Project Management (AIPM), for the project which involved the re-configuration of 290 branches, re-badging of 89 Colonial branches, re-training of around 4500 staff in CBA/Colonial products and systems, 5100 pieces of new IT equipment being installed and over 600 ATMs relocated with a corresponding increase in the capacity of the network.