Category: Australia Tech News

Updating the Tech Stack

People First Bank is on the verge of finalising a comprehensive upgrade of its technology stack, following the merger between People’s Choice and Heritage Bank. This undertaking, expected to be completed by late 2027, will involve the introduction of a Fiserv core banking platform, a fresh digital banking app powered by Backbase, and improved customer service systems integrated with Salesforce and Vonage.

Account Transition and New Solutions

The bank’s brand launched in May, representing a major achievement in its change initiative. Importantly, a new all-encompassing lending platform is about to go live, enhancing experiences for clients, brokers, and employees. The complete transition of Heritage Bank accounts to the new core banking system is projected for late 2027.

Comparisons with Larger Financial Institutions

Andy Weir, Chief Technology and Transformation Officer, sees similarities between the modernisation efforts at People First Bank and those of larger entities such as Westpac. He underscores a common aim of building a simple, modern, cloud-enabled, and sustainable technology stack.

Designing the New Stack

Weir’s responsibilities began just prior to the merger, and he played a crucial role in establishing the targeted technology state. He confirmed that 98% of the necessary tech decisions were secured before the merger. The strategy emphasizes simplicity, digital empowerment, and social accountability.

Pillars of Strategy and Clarity

The bank strives to provide a seamless customer experience by steering clear of unnecessarily complex features in its services. The recently launched digital banking platform, which has garnered high praise, illustrates this commitment to clarity.

Digital Empowerment and Safety

Security and robustness are paramount, with minimal customisation to ease upgrades and AI incorporation. The tech stack is crafted to lessen customer effort by reducing the need for phone calls and branch visits, while boosting safety through mechanisms like verified messaging and fraud prevention integration.

Conclusion

People First Bank is making notable progress in updating its technology stack, aiming for a 2027 completion date. This initiative encompasses a new core banking system, digital solutions, and advancements in customer service. The bank’s methodology aligns with those of larger counterparts, emphasizing simplicity, cloud functionalities, and safety.

Q: What are the key elements of People First Bank’s new technology stack?

A: The key elements consist of a Fiserv core banking platform, a Backbase-powered digital banking application, a new end-to-end lending platform, and upgraded customer service systems that utilize Salesforce and Vonage.

Q: When is the transition of Heritage Bank accounts anticipated to finish?

A: The transition of Heritage Bank accounts to the People First Bank core banking system is scheduled for completion by late 2027.

Q: How does People First Bank’s modernisation relate to larger banks?

A: The modernisation of People First Bank’s tech stack reflects the initiatives of larger banks like Westpac, striving for a straightforward, modern, cloud-based, and sustainable stack.

Q: What strategic principles guide the bank’s technology evolution?

A: The evolution is steered by three strategic principles: simplicity, digital empowerment, and social responsibility.

Q: How does People First Bank maintain the clarity of its digital banking application?

A: The bank refrains from complicating its services and is committed to delivering the most appreciated features for customers in a seamless fashion.

Q: What actions are being undertaken to improve security and reliability?

A: The bank is minimizing customisation to enable smoother upgrades and AI integration, with the goal of establishing a resilient, safe, and secure platform.

Vocus’ Australia-Singapore Cable Faces Disruption

Vocus is currently addressing a major disruption on its Australia Singapore Cable (ASC) network that links Perth to Singapore. This problem follows closely after a shunt fault on another significant cable along the corresponding route.

Break Location and Consequences

The rupture in the cable was detected in Indonesian waters between Anyer, near Jakarta, and Singapore. Vocus employed coherent optical time domain reflectometry (COTDR) testing from its Perth cable landing to determine the precise position of the break.

Repair Initiatives in Progress

Vocus is working diligently with its marine repair associates to ensure swift completion of the repairs. This process includes analyzing diagnostic data, verifying the availability of spare parts, and coordinating required permits and regulatory consents.

Redirecting Internet Traffic

To alleviate disruptions, internet traffic has been redirected through alternative channels. Network engineers have observed that traffic is being rerouted via cables on the Australian east coast and then through regions like Japan or the United States.

Conclusion

Vocus is confronting a significant disruption resulting from a cable rupture on its Australia Singapore Cable system. The situation’s location has been verified in Indonesian waters, and repair efforts are currently in progress. In the interim, internet traffic has been rerouted to reduce the impact.

Q: What led to the disruption on Vocus’ Australia Singapore Cable?

A: A cable rupture in Indonesian waters between Anyer and Singapore led to the disruption.

Q: What steps is Vocus taking regarding the cable rupture?

A: Vocus is collaborating with marine repair partners to carry out repairs and obtain essential regulatory approvals.

Q: How has internet traffic been influenced?

A: Internet traffic has been redirected through alternative routes, including the Australian east coast and through countries like Japan and the United States.

Q: What technology was utilized to locate the cable rupture?

A: Coherent optical time domain reflectometry (COTDR) testing was employed to accurately identify the location of the cable rupture.

Leadership Transition

Tim Cook, who has led Apple since succeeding Steve Jobs, will step back as CEO and transition into the position of executive chairman effective September 1st. Cook will prioritize Apple’s strategic engagements, especially in light of ongoing challenges between the United States and China, which is crucial for Apple’s manufacturing.

John Ternus, previously Apple’s hardware leader, will take on the role of CEO, steering Apple into the rapidly evolving AI age. This change signifies the conclusion of one of the most influential CEO periods in corporate history.

Brief Overview

• Transformation in cloud computing is altering security requirements, with a focus on identity as the emerging frontier.
• Expenditure on Identity and Access Management (IAM) is increasing at an annual rate of 15%, with forecasts indicating it will reach $39.5 billion by 2029.
• The Identity Threat Detection and Response (ITDR) market is anticipated to grow from $18.4 billion in 2024 to $51.1 billion by 2029.
• Cloud-Native Application Protection Platforms (CNAPP) are gaining popularity, expected to reach $21.1 billion by 2029.
• Zero Trust Network Access (ZTNA) is supplanting conventional VPNs, improving security by prioritizing identity-based access.
• The intricacy of cloud frameworks necessitates cohesive and automated security architectures.

The Cloud Challenge: Identity as the New Perimeter

As Australian enterprises proceed with their digital transition, the move to cloud computing has brought about not only advantages but also notable security obstacles. The conventional network security paradigm is being supplanted by identity-focused strategies, acknowledging identity as the key attack vector.

IAM: The Pillar of Cloud Security

Identity and Access Management (IAM) is now central to cloud security strategies. With expenditures on IAM expected to reach $39.5 billion by 2029, organizations are focusing on secure identity management to safeguard their cloud settings. This emphasis on identity is altering how security is enacted, necessitating strong IAM solutions that cater to both human and machine identities.

ITDR: Identifying and Addressing Identity Threats

The emergence of Identity Threat Detection and Response (ITDR) tools highlights the growing sophistication of cyber threats aimed at identities. With significant growth anticipated, ITDR solutions are crafted to identify and address identity misuse, lateral movement, and privilege escalation, offering essential protection in cloud settings.

CNAPP: Consolidating Security for Cloud Workloads

Cloud-Native Application Protection Platforms (CNAPP) signify a crucial step towards unified security solutions for cloud-native settings. By amalgamating various security instruments, CNAPP delivers streamlined protection for cloud workloads, ensuring compliance and security across all areas.

Zero Trust Network Access: The Emerging Standard

Zero Trust Network Access (ZTNA) is rapidly taking the place of traditional VPNs as the norm for cloud service access. By adhering to zero trust principles, ZTNA emphasizes identity-based control, diminishing the risk of lateral movement and bolstering overall security posture.

Conclusion

The advancement of cloud security is propelled by the increasing complexity of cloud frameworks and the urgent need to safeguard identities. As organizations invest in IAM, ITDR, CNAPP, and ZTNA technologies, they are preparing to face the challenges of a distributed and dynamic digital environment.

Q: What is the primary emphasis of contemporary cloud security strategies?

A: The main emphasis is on identity management, acknowledging identity as the key attack vector, moving away from traditional network security frameworks.

Q: How notable is the increase in IAM expenditure?

A: IAM expenditure is rising at a rate of 15% per year, with projections indicating it will reach $39.5 billion by 2029, underscoring its vital role in cloud security strategies.

Q: What function does ITDR serve in cloud security?

A: ITDR tools are crucial for detecting and addressing identity misuse and attacks, such as lateral movement, providing an essential layer of security.

Q: Why are CNAPPs critical for cloud settings?

A: CNAPPs provide integrated security for cloud-native applications, merging multiple security tools to ensure thorough protection and compliance.

Q: In what way does ZTNA improve cloud security?

A: ZTNA substitutes network-based access with identity-based control, aligning with zero trust principles to mitigate lateral movement risks and secure cloud access.

Firmus Technologies’ Significant Investment in APX East

Firmus Technologies has taken a noteworthy step by investing US$300 million ($416 million) in SUBCO’s APX East subsea cable system. This arrangement allocates Firmus 150Tbps of capacity on this route for at least 25 years, with operations projected to commence in late 2028.

Innovating with APX East

The APX East subsea cable will provide Australia’s first direct link to the United States, signifying a notable advancement in telecommunications. Once completed, it will also be recognized as the world’s longest continuous undersea optical cable, stretching over vast distances.

Enhancing AI Infrastructure in Australia

Firmus aims to develop “AI factories” across Australia and the Asia Pacific, a vision supported by this investment in international transmission capacity. Their collaboration with SUBCO highlights the increasing requirement for strong data centre frameworks to accommodate AI workloads.

Growth Initiatives in Tasmania

Firmus’ dedication to improving Tasmania’s connectivity is clear as they enhance the region’s undersea cable capacity to the mainland Australia. This expansion forms part of their strategy to develop data centres within Tasmania, thereby fortifying the state’s digital framework.

Challenges and Public Attention

In spite of substantial investments, Firmus is facing challenges, including public pushback against data centre developments. The company is under media scrutiny, especially regarding its strategies in Tasmania.

Australian Government’s Position on Data Centres

The Australian Labor government has emphasized the significance of data centres and AI, unveiling a national AI plan that details expectations for the industry. The growth of these facilities must harmonize with Australian values, according to the government’s directives.

Conclusion

Firmus Technologies’ investment in the APX East subsea cable system marks a strategic effort to improve Australia’s AI infrastructure. With plans to establish AI data centres and increase undersea connectivity, Firmus is positioning itself as a frontrunner in the digital realm, despite experiencing public scrutiny and regulatory hurdles.

Q&A Session

Q: What does the APX East project represent for Australia?

A:

The APX East project is crucial as it will constitute Australia’s first direct undersea cable link to the United States, improving international connectivity and supporting the nation’s expanding digital infrastructure requirements.

Q: What impact does Firmus’ investment have on Tasmania?

A:

Firmus’ investment facilitates its plans to double Tasmania’s undersea cable capacity to the mainland, aiding in the development of data centres in the area and enhancing connectivity.

Q: What challenges might Firmus encounter with its data centre initiatives?

A:

Firmus is likely to face obstacles such as local opposition and media attention regarding its data centre projects, particularly in Tasmania, which could influence project schedules and public opinion.

Q: How does the Australian government engage with the data centre and AI field?

A:

The Australian government has set forth expectations for the data centre and AI domain through its national AI plan, ensuring that expansions correspond with Australian values and addressing the socio-political ramifications of these initiatives.

Image credit: Tabcorp

Maxine Harrison Assumes CISO Position at Tabcorp

Tabcorp, a prominent gambling and entertainment organization in Australia, has named Maxine Harrison as its new chief information security officer (CISO). This appointment comes after the previous CISO’s departure earlier in the year, as announced via a LinkedIn post from Tabcorp’s official account.

Background and Qualifications

Maxine Harrison offers a vast amount of experience to Tabcorp, having worked as the CISO at the Victorian Government’s Department of Energy, Environment and Climate Action for almost three-and-a-half years. Her career includes leadership positions in cyber security and risk management at Service NSW and NBN Co, making her an expert in her field.

Emphasis on Cyber Security Strategy

The announcement from Tabcorp underscores the growing significance of technology in their business functions and customer service. Harrison’s responsibilities will revolve around fortifying Tabcorp’s cyber security strategy and improving the security and resilience of its operations. Her leadership is anticipated to enhance the company’s defenses against cyber threats.

Succession from Josh Kam

Harrison takes over from Josh Kam, who moved from the role of CISO to chief security officer at Tabcorp. Kam’s position encompassed both physical and IT security aspects. The return to a CISO title may point to an increased emphasis on information security within the organization.

Overview

The appointment of Maxine Harrison as Tabcorp’s CISO represents a strategic initiative to strengthen the company’s cyber security framework. With her extensive background, Harrison is ideally suited to lead Tabcorp’s initiatives in enhancing its information security while supporting technological evolution.

Q: Who is the newly appointed CISO of Tabcorp?

A:

Maxine Harrison has been appointed as the chief information security officer (CISO) of Tabcorp.

Q: What was Maxine Harrison’s previous position?

A:

She was the CISO at the Victorian Government’s Department of Energy, Environment and Climate Action.

Q: What prompted Tabcorp to return to the CISO title?

A:

Although the reason for renaming the position to CISO is not clear, it may reflect a renewed focus on information security.

Q: What roles did Josh Kam hold at Tabcorp?

A:

Josh Kam originally served as CISO before taking on the role of chief security officer, which included both physical and IT security responsibilities.

Q: What is expected of Harrison in her new role?

A:

Harrison is anticipated to spearhead Tabcorp’s cyber security strategy and reinforce the company’s security and resilience.

Q: What does Harrison’s appointment indicate for Tabcorp?

A:

The appointment signifies a heightened emphasis on cyber security and technological progression within Tabcorp.

Transforming HR Service Delivery with AI

IAG, a prominent insurer, is leveraging artificial intelligence to augment self-service options for employees’ HR inquiries. By implementing ServiceNow’s proprietary AI suite, Now Assist, the firm targets enhancements in how personnel access and utilize HR resources.

Shifting from Chatbots to Superior AI

In the past, IAG employed ServiceNow’s employee service center platform, which included a conversational chatbot. This system supported five main HR discussions, covering areas such as benefits and leave. Although a 30% deflection rate was achieved, IAG recognized the need for further improvement and decided to adopt the more sophisticated Now Assist AI suite.

Enhancing Knowledge Base for AI

A vital measure involved restructuring around 730 HR knowledge base articles for AI compatibility. The initiative, spearheaded by a dedicated team utilizing tools like Copilot, aims to ensure that the AI can effectively interpret and address inquiries, especially in differentiating between Australian and New Zealand regulations.

Realising Elevated Deflection Rates

Following the implementation of Now Assist, IAG recorded an average deflection rate of 67% in the initial month, which more than doubled the performance of the previous chatbot. This notable advancement represents a significant step towards the aim of achieving an 80% deflection rate.

Looking Ahead to AI-Enhanced HR

In the future, IAG intends to investigate more agentic AI workflows in HR, capitalizing on the achievements with Now Assist. This direction illustrates a continual dedication to utilizing technology for improved employee service delivery.

Recap

IAG’s shift to the Now Assist AI suite from ServiceNow’s chatbot signifies a strategic effort to elevate HR self-service capabilities. With initiatives focused on refining knowledge base materials for AI functionality, the insurer has already observed a notable increase in deflection rates, setting the stage for prospective AI-driven advancements in HR service delivery.

Q: What is the overarching objective of IAG’s AI integration?

A: The primary goal is to enhance self-service functionalities for employees in search of HR-related information, ultimately boosting deflection rates and service efficiency.

Q: In what ways does Now Assist differ from the earlier chatbot?

A: Now Assist represents a more sophisticated AI suite that provides a higher deflection rate by expanding the variety of self-service queries it manages compared to the prior conversational chatbot.

Q: What challenges did IAG encounter while implementing AI?

A: A main obstacle was restructuring HR knowledge base articles for AI optimisation, ensuring precise AI replies, especially in differentiating content between Australia and New Zealand.

Q: What future advancements does IAG expect with AI?

A: IAG plans to further investigate agentic AI workflows in HR, targeting ongoing enhancement in self-service delivery and employee engagement.