The big four banks can't afford any more IT mistakes

The big four banks have found agile adversaries in the likes of Google, Alibaba and PayPal, which could challenge up to 30 per cent of their revenues. Big investments in IT will be needed to stay ahead of the competition.

In the middle of the Commonwealth Bank’s financial planning crisis (A CBA scandal wake-up call to all banks, July 4), Macquarie Bank has sent a research report around the market that should send a shiver to shareholders in all big four banks.

Some 30 per cent of their revenue is set to be the subject of new competition, for which three of the four banks are ill-prepared.

{{content.question}}

SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles