Commbank in midst of 'Webolution'

World’s best banking software to be imported

The Commonwealth Bank of Australia's new-found passion for IT has risen to its highest ranks with CEO Ralph Norris declaring the bank is halfway through a "Webolution" to improve its online banking services.

Norris said the bank's CIO Michael Harte and his team have been working on a transformation project for some 18 months.

"We are halfway through what we call 'Webolution' which is a significant program to bring to Australia some of the best banking technology there is internationally," Norris said.

"Michael and his team have done a fantastic job thus far, but we are probably only halfway through that particular program.

Norris did not comment on what the net effect of importing banking technology to Australia will have on the country's already woeful ICT trade deficit and whether the bank will strive to use locally-developed technologies where appropriate.

"As an organization that has the largest retail branch network across Australia, with over 1000 branches, we also are critically aware that our next generation of customers are already committed to using the Net," he said.

"We have to make sure that we are not only have the largest retail branch network, but we also have the best and largest Web site and certainly the work that has been done by the team is absolutely fantastic."

Norris made the comments while accepting an award for the best bank Web site for 2008 for www.commbank.com.au

"I feel a bit like a fraud standing up here an accepting this award, I think Michael Harte should have accepted it," he said.

According to the organizers, Australian Banking and Finance Magazine, Commbank.com.au averages 100,000 visits each day and some 3 million unique visitors each month.

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