Commonwealth Bank registers increased IT spend
The Commonwealth Bank of Australia registered a 15 per cent jump in IT services expenses in FY16, with application maintenance and development the biggest overall contributor.
The Commonwealth Bank of Australia registered a 15 per cent jump in IT services expenses in FY16, with application maintenance and development the biggest overall contributor.
The warning from QuintessenceLabs’ CTO John Leisoboer is stark. “When sufficiently powerful quantum computers become generally available,” he says, “it’s guaranteed to break all existing cryptographic systems that we know of.”
The race to build the world’s first true quantum computer is on, with huge potential payoffs for businesses that harness the technology before their competitors.
The Commonwealth Bank’s decision to contribute millions of dollars to quantum computing research is not just about the significant commercial potential of the technology itself but also about developing its own in-house expertise in the area, according to chief information officer David Whiteing.
“We believe that the blockchain has huge potential,” Commonwealth Bank CIO David Whiteing today told the annual conference of the Stockbrokers Association of Australia.
Suncorp has appointed Sarah Harland to the role of chief information officer, the financial services group announced this morning.
CBA CIO, David Whiteing, says he is interested in embracing a range of technologies more commonly associated with businesses that have a purely digital heritage rather than the complex technology environment of a bank.
Suncorp’s chief information officer, Matt Pancino, has resigned, the company announced today.
The Commonwealth Bank of Australia and the Ace Foundation have finalised a settlement in a US lawsuit linked to an Australian criminal case that has seen charges laid against two former CBA IT executives.
The Commonwealth Bank has reached an out-of-court settlement with a US-based not-for-profit organisation in a lawsuit linked to an Australian criminal case involving former IT executives at the bank.
The Commonwealth Bank and a US-based not-for-profit organisation that has sued the bank are seeking to reach an out-of-court settlement. The legal action is linked to an Australian criminal case involving allegations that former CBA IT executives accepted kickbacks.
The Commonwealth Bank’s investment spend for the six months ending 31 December grew to $681 million, up from $595 million in the first half of FY15 and $651 million in 2H15.
A US not-for-profit that was linked to bribery allegations involving former Commonwealth Bank of Australia IT executives has sought a fresh start, ditching its previous name and online presence.
Telstra has announced it will invest $10 million in the Centre for Quantum Computation and Communication Technology (CQC2T) at the University of New South Wales.
The Commonwealth Bank and the University of New South Wales will develop a centre of expertise for information security, the two organisations announced today.