banks - News, Features, and Slideshows

• Investing in compliance is an investment in innovation

  The Westpac crisis - and echoes of non-compliance in financial institutions prior - is rooted in a legacy problem.

• Westpac prepares to launch ‘banking as a service’ platform

  Westpac plans to launch a standalone cloud-based digital ‘banking as a service’ platform that will allow third parties, such as Westpac’s institutional clients and fintechs, to offer the bank’s products to their customers.

• Infosys given deadline for handing over source code in Qudos case

  Infosys has been given until 3 September to hand over a range of source code to Qudos Bank as part of an intellectual property case currently before the Federal Court.

• Westpac CEO says tech investment has slashed outages

  Westpac experienced zero Severity 1 IT incidents in the second half of FY18 and the first half of FY19, which group CEO Brian Hartzer says reflects the bank’s technology investment program​.

• NAB accelerates cloud migration

  NAB has continued to slash its legacy application footprint and migrate systems to the cloud.

• CommBank Launches New-look NetBank

  The Commonwealth Bank has announced an upgrade of its customer service portal, NetBank, aimed at creating a single site, sign on and password to access a wider range of the bank’s websites and services.

Whitepapers about banks

• 

  Outsourcing by Financial Services Companies: Impact of the OCC and FRB Guidelines

  Outsourcing has become a critical component of management of financial institution operations. Consequently, the Office of the Controller of the Currency (OCC) and the Federal Reserve Board (FRB) recently issued guidance on how financial institutions should manage third-party risks. • Institutions are outsourcing increasingly complex and sensitive banking and financial operations to third parties • The guidance issued by each agency has particular relevance to outsourcing transactions and provides companies with a roadmap of the key areas of concern to regulators • Many of the suggestions in the OCC and FRB guidance concern provisions of outsourcing agreements where vendors often push back