Mr Smith tantalisingly added that; 'By building these core global capabilities, we also open the suite of new revenue opportunities that don't rely on our balance sheet and which will therefore improve our ROE (return on equity),' which sounds suspiciously as though the bank may be planning to offer access to that network to selected third parties, although Mr Smith did not elaborate.
He did however say that the bank was now establishing its reference architecture employing a mix of global and local systems and consolidating onto one IT platform in New Zealand.
'In Asia, technology will support the rapid growth by creating an agile technology platform that can be expanded as we grow our franchise in each country. I want to emphasise, though, that this isn't a big bang approach, it's a one bank approach. We have a very clear vision and so every investment we make is focused on delivering our business strategy, it's not just a series of projects,' he added.