Financial institutions / Big five & fintech (1,477 items)

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ADVERT: Insights into ANZ's seamless RPA integration strategy

Despite proven evidence of the benefits of robotic process automation – it is easily scalable, reduces operational costs by up to 90% and almost completely negates operational errors – most here in Australia remain hesitant to leverage this powerful tool due to organisational culture and change management concerns. Ahead of Robotic Process Automation Melbourne 2017, we chat to Rita Newman, Head of Strategic Performance at ANZ, who were early adopters of RPA technology and are now reaping the rewards of seamlessly integrated RPA processes.Read the full article here or request a copy. read more

'Chaotic. Pathetic. Inept.' CommBank rehearsed 2017 crisis

Members of Commonwealth Bank's senior management team were apparently drilled in methods for handling an operational crisis many years before the recent, destabilising AUSTRAC legal action lobbed in the Federal Court this month.In a panel discussion on operational risk at an ASIC conference in March 2014, Alden Toevs, the former chief risk officer, said he organised simulated crisis events to test the resilience of senior executives.Toevs was horrified by the response of the bank's top management in the first trial, describing their performance as "unbelievably bad". read more

CommBank IFRS cash mash a profit conundrum

Companies such as the Commonwealth Bank continue to run the risk of confusing the mass of its 800,000 investors when they highlight differing numbers as ways of determining profit and reporting corporate performance.The release of the bank's annual report on Monday allows a closer view of the cash profit and its merits. read more

CBA up for fragmented confessional

Now that the anti-money laundering debacle appears to have claimed the scalp of the Commonwealth Bank's top executive, investors will be seeking a detailed explanation for the bank's decision not to disclose the alleged breaches during the 2016 financial year. read more

CBA 'couldn't build' case to combat fraud

At the same time that organised crime syndicates were allegedly exploiting weaknesses in Commonwealth Bank's systems, Matthew Keaney, the executive in charge of combating financial crime at CBA, was publicly questioning whether banks could afford to pursue reduced tolerance of fraud based on a business case."Our external consultants and internal IT resources are just so expensive. So you cannot build the business cases, that is the reality," Keaney told an industry forum in 2013 - a period when high value cash transactions that should have been reported to AUSTRAC were passing undetected through CBA's expanding fleet of intelligent deposit machines. read more

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