Commonwealth Bank of Australia
(ASX:CBA) has modernised its core banking systems, in some cases the bank had been dealing with systems dating back 40 years.
The aims were to improve customer service, find growth opportunities, increase efficiency and manage risk in aging systems.
CBA says 1.2 million term deposit accounts and 10 million retail deposit accounts had been moved to the new platform in 2010.
Retail deposit and transaction customers were given access to real time banking. Business deposit accounts are due to be moved this year.
Commonwealth Bank reported a half yearly net profit of $3 billion to December 31, 2010.
