The ANZ Bank has become the first of Australia's largest financial organisations to declare its internal computer systems devoid of the Y2K bug.
In a report to the Australian Stock Exchange last week, the bank said it had finalised much of its $180 million millennium bug program, having mended and individually tested its in-house-developed software applications and core technology platforms.
"ANZ's year 2000 project has already undertaken more than 500 person-years of effort and the completion of internal repair and testing has been achieved on budget and ahead of schedule, which is a tribute to the staff involved," said David Boyles, ANZ's chief information officer.
The bank's bug work is not yet complete, however, with it still to conduct testing on all its third-party-supplied software, as well as ensuring its large customers and business partners are ready for the turn of the century.
According to Boyles, the organisation is due to start testing its transaction processing capabilities with other banks in a program that is due to wind up in June this year.