Commonwealth Bank selects consortium to upgrade online banking system

2 June 2003

The Commonwealth Bank today announced a consortium comprising IBM Business Consulting Services and Eontec Ltd as the successful tenderer to upgrade its online banking service.

Hugh Harley, the Commonwealth Bank’s Group Executive, Retail Banking Services, said, "The upgrading of our internet banking service will ensure that Commonwealth Bank customers continue to have market leading online access and services available. Our online customer base and transaction activity continue to grow rapidly and this upgrade will provide the increased capacity to support future customer growth and will also expand the range of services available online."

The agreement involves IBM Business Consulting Services supplying, integrating and supporting an online banking product supplied by Eontec Ltd. EDS Australia will provide the infrastructure, develop linkages to other Bank systems and operate the online banking service on an ongoing basis.

Executive Director of EDS Australia, Stuart Bailey, said EDS is pleased to have played a key role in assisting the Bank make the best business and technical decision in the selection of the consortium members.

"EDS will provide program management, a range of development, testing and application support as well as infrastructure services. In addition, EDS will assume responsibility for the ongoing operation of the new system, ensuring that the new system fully integrates into the Bank’s architectural and operational strategy."

Rod Bryan, Financial Services Leader, Business Consulting Services, IBM Australia & New Zealand said, "We are pleased that the Commonwealth Bank has chosen to partner with IBM Business Consulting Services in the upgrade of its online banking service.

"Combining IBM’s best-of-breed consulting and services with technology from Eontec, this upgrade offers customers and expanded range of benefits and provides the Bank with increased capacity to support future growth and opportunity in the increasingly competitive on-line banking market." added Mr Bryan.

Eontec Ltd, Managing Director for Japan, Asia Pacific, Mr David Jones said, "We have worked closely with IBM Business Consulting Services and the Commonwealth Bank to ensure our online banking module of our multichannel banking software product will satisfy the current future needs of the Bank’s online banking customer base."

The new service will be launched during the second half of 2004.

Media Contact:
Dawn Willis
Group Corporate Relations
Phone: 02 9378 2662 or 0416 293 349