The Commonwealth Bank either has a six-year lead in technology over the other banks, or it has just spent $1.3 billion and six years on unnecessary upgrades. The upgrade started in 2007 and was finished by April of this year, with 1500 people working on the project full time for six years. The interview with Commonwealth Bank chief executive Ian Narev and Financial Review Sunday
came a few days after CBA posted a $7.8 billion profit for the 2013 financial year. CommBank has other technological developments in the pipeline besides real-time banking. For example, it is developing a specialised Android-based tablet for taking payment at retail level, called Albert.
http://www.brw.com.au/p/tech-gadgets/cba_takes_bn_sap_punt_on_real_time_9hww9xVkOCZw3MpZHiHgKJ
