i-flex to develop component for National Australia Bank

MELBOURNE: The National Australia Bank has roped in Indian banking software developer i-flex services to overhaul a component of its legacy systems as also design a platform from which to deliver internet banking.

I-flex will also deliver a range of services, including support activities such as professional and application management, analytics and consulting, a report in 'The Australian' said today.

The bank's new Star Bank project does not have physical branches and offers banking services through call centres and the internet and it will be developed using i-flex banking software technology.

NAB spokeswoman Kerrina Lawrence said the development work would be split between its staff and Oracle, I-flex's parent company, but the final make-up had not been decided. At this stage, there were no plans to host Star Bank offshore, she said.

"NAB has not decided against using its staff in the process," Lawrence said.

"It recognises that we'll be rebalancing our investment between business as usual and NexGen and must therefore consolidate our capabilities to free up capacity to focus on the significant transition activity ahead," NAB Chief Information Officer Michelle Tredenick writes.

The restructure will be bedded down over the next two months, under the watch of an integration manager and Bright, and Tredenick said more structural changes could be rolled out to other business units.

NAB is in the final stages of reviewing outsourcing wave two, which could lead to up to 400 jobs in technology banking and the MLC wealth management business going offshore.

Several sources have said any legacy replacement work that is not done by Oracle will be sent offshore to Infosys and Satyam.