NAB's financial results released yesterday not only revealed the extent to which the bank is exposed to its troubled UK operations but also reflect the bank's significant and ongoing investment in technology. Although NAB chief executive Cameron Clyne said the bank did not capitalise software to the degree its peers did, in 2011/12 the value of its capitalised software rose to A$1.4 billion, compared to $1.25 billion the previous year.To set that in context - in 2004 the combined capitalised value of the four major banks' software was only fractionally higher, at $1.48 billion.Like most of its peers, NAB has been overhauling its core computing platform, requiring huge investment in technology, and it continues with its program to migrate on to the NextGen platform, which has been developed in association with software giant Oracle.Although that transformation is still progressing, there is some evidence that the investment is starting to pay dividends.In 2010/11, the bank was sent reeling by a series of high profile computer crashes. This year it reported that it had reduced the number of "significant technology incidents" by 28 per cent. It claimed this was "reducing the effect of service outages on customers".Clyne said that the bank was "very pleased with the advance of technology", pointing to recent milestones such as the introduction of a new online share trading platform, the establishment of a virtual contact centre, and the migration of 300,000 UBank customers on to the NextGen core banking platform.Spending on computer equipment and software rose to $524 million this year, compared with $428 million a year ago. Data communications and processing costs, meanwhile, held steady at $124 million.