[LINK] Internet Banking

[stephen at melbpc.org.au]

Rick writes,

> (Westpac) began charging for each Internet transaction.. and (now)
> offer (a) fee-free Internet only account with high interest .. and
> (b) an e-Account for a flat $3.00/mon for any number of Internet and
> other transactions.  What are other Linkers experiences with banking
> fees and their relation to Internet banking? .. cheers, Rick W


The NAB appear to have big plans for their 'Star Direct' business anyway:

--
National Australia Bank 

ASX Announcement Wednesday, 6th August 2008

National Australia Bank (NAB) today announced the first phase of its
Next Generation Platform initiative that will involve the replacement
of its core banking systems over the next five years to underpin its
strategy for sustainable out-performance..

“We are now well positioned to embark on the next wave of our strategy,”
said Mr Fahour.

The Next Generation platform strategy has been developed over 18 months
following a robust process leveraging industry and internal experts and
an extensive evaluation of potential vendor partners.

“It has been a highly collaborative process, involving leaders from right
across our Australian business, including the Board,” said Mr Fahour.

NAB has selected Oracle to partner with for the first phase of its
Next Generation Platform strategy. 

Phase one will involve the delivery of a platform for the Star Direct
business, a new business that NAB has previously flagged to the market. 

The Star Direct business will include a specialised, low cost, high
service direct bank that will be launched later this year.

“This is a significant investment for NAB and we plan to take a very
phased and measured approach over the next five years,” said Ms Michelle
Tredenick, Chief Information Officer Australia.

“Our existing IT systems have served the business well to date, however
they are not sufficient to support our future strategic direction.

“We have strong support throughout the organisation, with the program to
be managed and governed by the Australian Executive team. We are confident
that the time for change is now,” said Ms Tredenick.

While Oracle is delivering the platform for the Star Direct business,
NAB will plan the second and subsequent phases of the strategy in 
parallel. This planning is expected to take approximately six months to
complete. It is at this time that NAB will be in a position to share
further detail on how it plans to sequence this program and confirm who
it will partner with going forward.

"It is expected that the Australian investment, which is a multi-year
program, can be accommodated within our existing investment spend across
the Group," Mr Fahour concluded.
--

Cheers people
Stephen Loosley
Victoria Australia