Category: Australia Tech News

Quick Overview

• CBA is testing a myGov-driven identity verification solution named Trust Exchange (TEx).
• Users will utilize the myGov app to scan a QR code and securely transmit confirmed information.
• The system avoids collecting unnecessary data, thereby enhancing privacy and security.
• This project is supported by $11.4 million in initial government funding.
• TEx incorporates an opt-in approach, delivering convenience to users while allowing them to manage their data.
• The proof-of-concept may lead to wider implementation of secure digital identity systems in Australia.

What Is the TEx Pilot Initiative?

The Commonwealth Bank of Australia (CBA), in partnership with Services Australia, has initiated a proof-of-concept pilot called Trust Exchange (TEx). This program is designed to simplify identity verification for customers utilizing the myGov platform. The trial enables customers to communicate government-validated information, such as their name and Medicare enrollment status, to the bank through the myGov app.

This advancement uses a QR code technology at designated branches in Canberra. Customers can scan the code via the myGov app and opt to share limited information. Importantly, the method does not share unnecessary details, like Medicare numbers, ensuring improved privacy and security.

How Is TEx Different From Other Digital Identity Systems?

Unlike conventional digital identity systems or applications, TEx is neither a wallet nor an independent application. Rather, it operates as a tool for securely validating an individual’s identity using information held by the government. This approach corresponds with global trends in digital identity management, emphasizing simplicity, security, and user authority.

The voluntary nature of TEx guarantees that users retain full control over their data. By providing a smooth and user-friendly experience, the initiative aims to promote broad acceptance without forcing participation.

Government Investment and Future Prospects

The TEx pilot has secured $11.4 million in introductory funding from the federal government. This investment emphasizes the government’s dedication to enhancing digital identity solutions. Outgoing National Disability Insurance Scheme (NDIS) Minister Bill Shorten, who announced the project in August, highlighted its transformative potential for identity verification practices in Australia.

At the conclusion of the trial, the government will assess its effectiveness and determine subsequent actions. If the pilot proves successful, TEx could serve as a framework for future digital identity initiatives, benefiting both public and private entities.

Benefits of TEx for Australians

The TEx initiative provides numerous benefits for Australian individuals and businesses:

• Improved Security: By sharing only essential information, TEx mitigates the risk of data exploitation.
• Ease of Use: The QR code system combined with the myGov app enhances the identity verification process.
• Control for Users: The opt-in framework guarantees that individuals keep control over their personal information.
• Growth Potential: If successful, TEx could extend to other sectors, including healthcare and education.

Conclusion

The Commonwealth Bank of Australia’s TEx trial marks a major advancement in digital identity verification. By utilizing the myGov platform, this program promises improved security, user control, and convenience. With government support and an opt-in structure, TEx may become a standard for future developments in digital identity management. As Australia investigates this proof-of-concept, the opportunities for a more secure and efficient digital landscape are becoming increasingly apparent.

Q&A: Essential Information About the TEx Pilot

Q: What is the goal of the TEx pilot?

A:

The TEx pilot intends to simplify and secure identity verification by enabling users to share verified data directly from the myGov platform. This diminishes the need for physical documents while enhancing privacy.

Q: How does the QR code technology operate?

A:

Participants utilize the myGov app to scan a QR code presented at specific CBA branches. The app then prompts users to consent to share particular information, such as their name and Medicare enrollment status.

Q: Is participation in TEx compulsory?

A:

No, TEx functions as an opt-in system. Users must willingly agree to share their information, ensuring complete control over their data.

Q: What kind of information is disseminated through TEx?

A:

Only necessary details, such as a user’s name and verification of Medicare enrollment, are shared. Irrelevant information, such as Medicare numbers, is omitted to safeguard privacy.

Q: What occurs after the pilot phase?

A:

Upon the trial’s completion, the federal government will review its results and determine the subsequent course of action. If successful, the system could be scaled for application across various industries.

Q: How does TEx benefit businesses like CBA?

A:

By streamlining identity verification, TEx lessens administrative challenges and enhances customer onboarding processes. It also fortifies security, benefiting both businesses and consumers.

Q: Could TEx be applicable beyond the banking industry?

A:

Yes, the system has the potential for adaptation in sectors such as healthcare, education, and government services, making identity verification more effective and secure across various fields.

Brief Overview

• The US Treasury has placed sanctions on Chinese hacker Yin Kecheng and Sichuan Juxinhe Network Technology.
• These entities are accused of engaging in cyber espionage linked to the “Salt Typhoon” operation, targeting American telecom firms.
• The intrusion allegedly revealed confidential call logs and discussions of US officials to Chinese intelligence.
• Salt Typhoon is regarded as one of the most severe telecom breaches in the history of the US.
• China refutes claims of involvement in cyber espionage, despite allegations connecting it to the Ministry of State Security (MSS).
• The sanctions are intended to disrupt the cyber espionage framework attributed to China and dissuade future incursions.

What Is the ‘Salt Typhoon’ Cyberattack?

The “Salt Typhoon” cyberattack refers to a series of advanced intrusions reportedly executed by Sichuan Juxinhe Network Technology alongside hacker Yin Kecheng. These attacks focused on American telecom providers, breaching sensitive calling data.

Reports claim that the onslaught unveiled millions of Americans’ call records to Chinese intelligence agencies, including private discussions of significant US politicians and officials. This situation raises substantial alarm regarding national security and data confidentiality.

<img src="https://i.nextmedia.com.au/Utils/ImageResizer.ashx?n=https%3a%2f%2fi.nextmedia.com.au%2fNews%2fwhite+house.JPG&h=420&w=748&c=0&s=0" alt="US Treasury imposes sanctions on Chinese hacker and firm due to Salt Typhoon cyberattack

In Brief

• China has kicked off an investigation regarding US semiconductor subsidies, citing negative impacts on its local chip producers.
• The conflict centers on “mature node” chips, which are cost-effective, widely utilized, and simpler than the latest AI chips.
• This investigation follows the Biden administration’s CHIPS Act, which earmarks US$52.7 billion (A$84.8 billion) to enhance US chip production.
• China accuses the US of engaging in unfair tactics, such as selling chips below the market rate and hampering competition.
• Retaliatory actions could affect US companies like Intel, alongside global supply chains and tech sectors.
• Australia’s technology industry might experience spillover effects due to its dependency on international semiconductor markets.

Understanding Mature Node Chips and Their Significance

Unlike the latest AI chips, mature node chips are older, more cost-effective, and simpler to produce. These chips are the backbone of everyday items like appliances, cars, and communication systems. Although they do not possess the intricacies of advanced semiconductors, they play a vital role across numerous industries worldwide.

China’s focus is on the affordability of these chips and local manufacturing. Chinese producers contend that US subsidies enable American firms to sell these chips at artificially low prices, undermining Chinese competition.

The Impact of the CHIPS Act on the Conflict

The CHIPS and Science Act, introduced by the Biden administration in 2022, allocated US$52.7 billion (A$84.8 billion) to strengthen US semiconductor fabrication, research, and workforce expansion. The initiative seeks to diminish America’s dependence on foreign manufacturers, especially in critical areas like defense and artificial intelligence. However, China perceives these subsidies as a direct challenge to its semiconductor industry.

Chinese officials assert that the CHIPS Act disrupts global market conditions and breaches the norms of fair competition. The China Semiconductor Industry Association has openly backed the investigation, charging the United States with using government funds to secure an unfair competitive advantage.

Heightening Tensions in the Semiconductor Field

This investigation is the latest installment in an ongoing geopolitical contest between the US and China over semiconductor supremacy. In recent years, the US has tightened restrictions on the export of advanced AI chips, limited tech transactions with Chinese firms, and increased tariffs on imports of Chinese chips.

In retaliation, China has implemented measures such as imposing restrictions on rare earth metal exports and investigating US tech giants like Nvidia for alleged anti-competitive behavior. These ongoing reciprocal actions pose risks of further disruptions in global supply networks and escalating trade tensions.

Potential Ramifications for Australia

Australia’s technology sector is heavily dependent on international semiconductor supply chains. Any disruptions stemming from the US-China discord may result in increased expenses, delays, and a shortage of essential components. For Australian enterprises and consumers, this could translate to higher prices for electronic goods and sluggish innovation cycles.

Furthermore, Australia’s strategic alliances with the US might position it as a secondary participant in this conflict, potentially drawing attention from China or leading to trade limitations. Policymakers and industry leaders must navigate these complexities prudently to protect Australia’s technology landscape.

Conclusion

China’s inquiry into US semiconductor subsidies underscores the escalating rivalry between the globe’s two largest economies. Central to the conflict are mature node chips, essential but simpler semiconductors that support a significant part of contemporary technology. As the US pushes forward with its CHIPS Act and export restrictions, China’s countermeasures may further strain global supply chains and impact technology markets around the world, including Australia.

Q&A: Comprehending the Semiconductor Disputes

Q: What are mature node chips?

A:

Mature node chips are older generation semiconductors utilized in simpler applications such as household appliances, automobiles, and communication devices. They are also less expensive and easier to manufacture compared to advanced AI chips.

Q: Why is China probing US chip subsidies?

A:

China asserts that US subsidies, facilitated by the CHIPS Act, provide American chipmakers an unfair advantage, enabling them to sell chips at sub-market prices, thereby harming China’s local semiconductor sector.

Q: What implications does the CHIPS Act have on global markets?

A:

The CHIPS Act seeks to enhance US semiconductor production and lessen dependency on foreign suppliers. Nonetheless, it has reshaped global market dynamics, resulting in tensions with countries such as China and potential disruptions in supply chains.

Q: What retaliatory measures has China taken thus far?

A:

China has limited rare earth metal exports, initiated investigations into US tech companies like Nvidia, and accused the US of breaching market economy norms through its subsidy initiatives.

Q: How might this conflict affect Australia?

A:

Australia could encounter higher expenses and delays in obtaining semiconductors, which might impact its tech industry. Additionally, Australia’s strong relations with the US might draw increased scrutiny from China amidst the ongoing conflict.

Q: Is a resolution likely to emerge soon?

A:

Currently, the conflict shows no indications of a resolution. Both nations seem to be reinforcing their strategies, which could lead to prolonged uncertainty and further disturbances in the semiconductor industry.

Quick Summary

• Brad Blyth, former CIO of Kmart, has begun his tenure at Ampol as Executive General Manager of Technology, Digital, and Data.
• Blyth will manage Ampol’s digital, data, and technology strategies, reporting to CEO Matt Halliday.
• This appointment emphasizes Ampol’s commitment to digital transformation and energy transitional growth.
• Blyth brings valuable experience from his Kmart role, where he led initiatives in in-store digitization and generative AI.
• Ampol strives to meet evolving customer requirements in a competitive energy sector.

Leadership Shift at Ampol

Brad Blyth, the past Chief Information Officer (CIO) of Kmart, has taken a significant new position at Ampol as Executive General Manager of Technology, Digital, and Data. Reporting directly to Ampol’s CEO and Managing Director, Matt Halliday, Blyth has moved from Melbourne to Sydney to embrace this exciting opportunity.

This strategic appointment highlights Ampol’s commitment to harnessing technology, data, and digital innovation to improve customer experiences and sustain its competitive advantage in the energy industry.

Ampol’s Commitment to Digital Transformation

Ampol is enhancing its focus on digital transformation as part of its long-term growth strategy. CEO Matt Halliday noted that Blyth’s appointment symbolizes the growing significance of technology and data in shaping the company’s future. “Creating this leadership position acknowledges the essential role of digital, data, and technology in advancing Ampol’s strategy,” Halliday stated.

With Blyth at the forefront, the newly established team will develop Ampol’s digital strategy to address the swiftly evolving needs of customers and stakeholders. The appointment also serves to future-proof Ampol as it navigates a phase of energy transition and increased customer expectations.

From Kmart to Ampol: Blyth’s Established Success

During his tenure of four years at Kmart, Blyth left a significant impact by leading the digitization of in-store processes and the early integration of generative artificial intelligence (AI). His initiatives laid the foundation for modernizing Kmart’s retail operations, a feat that earned him recognition as a transformative figure in the Australian retail landscape.

Earlier, Blyth served at FlyBuys, further enhancing his expertise in data-driven customer solutions. This extensive experience makes him an excellent fit for spearheading Ampol’s digital and data-driven projects.

Pioneering Sustainable Energy Solutions

In his LinkedIn announcement, Blyth articulated his excitement about Ampol’s capacity to create a significant impact on the lives of Australians and New Zealanders. He underscored the importance of environmentally responsible energy solutions in the face of rising living expenses and shifting consumer expectations.

“The cost of living and sustainable energy are issues that affect everyone. It’s fulfilling to join the team developing customer solutions,” Blyth remarked. His vision corresponds with Ampol’s strategy to lead the energy transition while ensuring customer-centric outcomes.

Overview

Brad Blyth’s move from Kmart to Ampol represents a crucial advancement in the petroleum company’s path toward digital transformation and energy innovation. With an established record of utilizing technology for sustainable growth, Blyth’s leadership is anticipated to advance Ampol’s goals in delivering innovative solutions to its customers and stakeholders.

Questions & Answers

Q: Why did Ampol establish this new leadership role?

A:

This new position was created to enhance Ampol’s emphasis on digital transformation, data strategy, and technological innovation. It reflects the company’s pledge to remain competitive in an evolving energy marketplace.

Q: What skills does Brad Blyth bring to Ampol?

A:

Brad Blyth offers substantial expertise in digital transformation, in-store process digitization, and generative AI initiatives. His leadership experience at Kmart and FlyBuys has prepared him to effectively advance Ampol’s digital and data strategies.

Q: How will Blyth’s role influence Ampol’s energy transition strategy?

A:

Blyth’s role will concentrate on merging technology and data to cultivate sustainable energy solutions. This aligns with Ampol’s objective of leading the energy transition while responding to customer needs amid rising living costs.

Q: What objectives does Ampol have for its digital strategy?

A:

Ampol seeks to improve customer experiences, optimize operations, and maintain competitiveness through data and digital technologies. The guidance of Blyth is expected to quicken these efforts.

Q: Will Blyth’s appointment result in significant operational changes at Ampol?

A:

Although immediate modifications may not be apparent, Blyth’s appointment indicates a strategic pivot towards technology-driven operations and innovation. This is likely to shape Ampol’s products and customer engagement over time.

Quick Overview

• Phillip Britt, co-founder and managing director of Aussie Broadband, will retire as CEO effective February 28.
• Britt will retain his role as a non-executive director and special technical adviser.
• Brian Maher, the current CFO, will step into the role of group CEO starting March 1, 2024.
• Aussie Broadband has ascended to become Australia’s fifth-largest telecommunications company, boasting 780,259 broadband connections.
• The company has an estimated market capitalization of about $1 billion and has executed significant acquisitions in recent years.
• The leadership change signals Aussie Broadband’s commitment to sustainable growth and innovation.

Phillip Britt’s Impact on Growth and Innovation

Phillip Britt, a key figure at Aussie Broadband, has declared his intent to retire as CEO on February 28, 2024. Britt, who launched the company with John Reisinger in 2008 through the merger of Wideband Networks and Westvic Broadband, has played a crucial role in transforming Aussie Broadband from a regional provider to a national telecommunications leader.

With his guidance, Aussie Broadband has captured its position as Australia’s fifth-largest telco, achieving 780,259 broadband connections. The company currently boasts a market cap of approximately $1 billion. Britt also spearheaded significant acquisitions such as Over the Wire in 2022 and Symbio in 2024, setting the stage for diversified growth in various sectors.

Adrian Fitzpatrick, chair of Aussie Broadband, commended Britt’s efforts, stating, “Phil has been a driving force behind the swift expansion of Aussie Broadband from a local ISP to a national telecommunications entity with a diverse array of products and clientele.”

Brian Maher: Stepping into Leadership

Following Britt’s tenure, Brian Maher will take on the role of CEO. Maher has been with Aussie Broadband as CFO since 2019, where he was integral to the company’s $40 million initial public offering (IPO) in 2020. His financial expertise and strategic insight have garnered him strong support from stakeholders, leading to his upcoming appointment as CEO in February 2024. He will officially transition to the position of group CEO on March 1, 2024.

Britt expressed complete confidence in Maher’s leadership capabilities, stating, “Aussie Broadband will thrive under Brian’s guidance.”

Implications for Aussie Broadband

This leadership transition signifies a pivotal moment for Aussie Broadband, yet it follows a familiar path. The company has consistently made strategic moves to secure its long-term growth and resilience in a competitive landscape. Britt’s exit comes after co-founder and CTO John Reisinger stepped down in August 2023. These developments highlight the company’s evolution and readiness to embark on a new leadership journey.

With Maher at the forefront, Aussie Broadband is set to persist in its commitment to offering innovative, high-quality telecommunications solutions while seeking fresh expansion avenues. The company’s strategic acquisitions, strong customer base, and reputation for reliability position it well for ongoing success.

Conclusion

Phillip Britt’s retirement as CEO of Aussie Broadband signals the conclusion of a notable chapter for the company he co-founded in 2008. Under his leadership, the telco transformed from a modest regional player to a national giant with a billion-dollar market valuation. As Brian Maher steps in as CEO, Aussie Broadband is ready for a new phase of growth and innovation, anchored by a solid foundation and a clear vision for the future.

Q&A: Important Questions About Aussie Broadband’s Leadership Shift

Q: When will Phillip Britt officially retire as CEO?

A:

Britt is set to retire as CEO on February 28, 2024, but will continue to engage with the company as a non-executive director and special technical adviser.

Q: Who is Brian Maher, and what is his professional background?

A:

Brian Maher has served as Aussie Broadband’s CFO since 2019. He played a crucial part in the successful $40 million IPO in 2020 and possesses substantial experience in financial management and leadership.

Q: What growth did Aussie Broadband experience under Phillip Britt’s leadership?

A:

During Britt’s tenure, Aussie Broadband expanded its broadband connections to 780,259, made significant acquisitions like Over the Wire and Symbio, and achieved a market capitalization of roughly $1 billion.

Q: What significance does the leadership transition hold?

A:

The leadership change represents Aussie Broadband’s transformation into a mature and sustainable business, prepared to face future challenges while upholding its innovative spirit.

Q: In what ways will Phillip Britt stay engaged with the company?

A:

Britt will remain on the board as a non-executive director and serve as a special technical adviser, leveraging his industry knowledge and insights.

Q: What is Aussie Broadband’s current position in the market?

A:

Aussie Broadband ranks as the fifth-largest telco in Australia, recognized for its customer-oriented services, dependable products, and strong positioning in the market.

Quick Overview

• Microsoft has introduced Copilot Chat, an AI-driven solution for businesses, available at no cost with optional subscription enhancements.
• Utilizing OpenAI’s GPT-4, Copilot Chat empowers users to develop AI agents for activities such as market analysis and meeting organization.
• Premium capabilities, including Teams call transcription and PowerPoint generation, necessitate a Microsoft 365 Copilot subscription (A$48/month).
• Microsoft is heavily investing—around US$80 billion this fiscal year—into data centers and AI technology.
• The pay-as-you-go structure is crafted to motivate businesses to embrace AI without considerable upfront costs.
• Autonomous agent features, released in November, are aimed at streamlining AI integration for enterprises.

What Exactly is Copilot Chat?

Microsoft has launched Copilot Chat, a complimentary service aimed at enhancing the accessibility of AI tools for organizations. By leveraging OpenAI’s GPT-4 technology, this platform allows users to generate AI agents that can communicate in natural languages such as English and Mandarin. These agents can facilitate various functions, including market assessments, drafting strategic documents, and meeting preparations. This advancement is in line with Microsoft’s larger vision to embed AI into normal business processes.

Who Stands to Gain?

Small and medium-sized enterprises (SMEs), startups, and even larger corporations can benefit from Copilot Chat. By providing a free basic service with the option for subscription upgrades, Microsoft is reducing the entry barriers for companies wary of heavily investing in AI technologies upfront.

Pricing and Subscription Features

While the fundamental features of Copilot Chat are complimentary, advanced options require a Microsoft 365 Copilot subscription priced at US$30 (approximately A$48) monthly. These premium functionalities comprise:

• Summarizing and transcribing Teams discussions to enhance meeting productivity.
• Generating PowerPoint presentations for polished briefings.
• Advanced tools for data analysis and reporting.

For businesses already leveraging Microsoft 365, these enhancements could yield substantial value, improving efficiency and productivity.

Microsoft’s Commitment to AI

Microsoft is firmly committed to AI, projecting an expenditure of about US$80 billion this fiscal year towards bolstering its data center capabilities and AI infrastructure. This substantial financial commitment highlights Microsoft’s assurance in AI being integral to its future offerings.

Nonetheless, this effort occurs amidst rising scrutiny from market analysts and investors, particularly following a Gartner report that raised alarms over the uptake of Microsoft’s AI offerings. The introduction of Copilot Chat serves as a strategic initiative to alleviating these worries and promoting widespread AI adoption across the business sector.

Capabilities of Autonomous Agents

In November, Microsoft rolled out features enabling businesses to create autonomous AI agents that can operate with minimal human supervision. Analysts speculate that this capability may assist tech firms in better monetizing AI. These autonomous agents can manage repetitive or burdensome tasks, allowing employees to concentrate on more impactful responsibilities.

This combination of affordable entry points, strong infrastructure, and autonomous features positions Microsoft to take the lead in the AI business applications arena.

Conclusion

Microsoft’s Copilot Chat signifies a major advance in rendering AI both accessible and applicable for enterprises. By providing a complimentary service with optional premium add-ons, along with a pay-as-you-go framework, Microsoft is tackling both financial and operational challenges related to AI adoption. Coupled with its significant investment in AI infrastructure, Microsoft is well-positioned to bolster its stature as a frontrunner in AI solutions tailored for businesses.

Q&A: Your Inquiries Clarified

Q: What is Microsoft Copilot Chat?

A:

Copilot Chat is a no-cost AI-enabled tool from Microsoft that allows businesses to create and deploy AI agents for functions like market analysis, meeting setup, and strategic planning. It runs on OpenAI’s GPT-4 technology.

Q: What is the cost of the subscription?

A:

The premium Microsoft 365 Copilot subscription is priced at US$30 (roughly A$48) monthly. This grants access to advanced features such as Teams call transcription and PowerPoint slide creation.

Q: Who is this service intended for?

A:

Copilot Chat is particularly suitable for small to medium-sized businesses, startups, and larger companies seeking to incorporate AI into their everyday activities without substantial upfront outlay.

Q: What types of tasks can Copilot Chat perform?

A:

Copilot Chat can handle market analysis, draft strategy documents, prepare for meetings, transcribe Teams calls, and create PowerPoint presentations.

Q: How does Copilot Chat differ from other AI solutions?

A:

Its integration within Microsoft’s existing ecosystem along with the capacity to create autonomous AI agents uniquely differentiate it from other AI offerings in the market.

Q: How does the pay-as-you-go structure function?

A:

The fundamental service is free to use, and businesses can opt for premium features through a monthly subscription, which reduces initial investment while allowing scalability as necessary.

Quick Overview

• The Reserve Bank of Australia (RBA) is progressing with its CoreMod infrastructure enhancement program.
• This initiative involves the transition of core applications to a CDC Data Centres site by December 2026.
• NTT has been engaged for the design and execution of the infrastructure, secured by a $12.7 million contract.
• A $37 million colocation agreement with CDC Data Centres is set to last until March 2034.
• A new Governance Board will supervise the CoreMod project.
• This endeavor is geared towards reducing risks, updating IT systems, and boosting system resilience.

RBA’s CoreMod Migration: Advancing Resilience

The Reserve Bank of Australia (RBA) is embarking on a vital stage of its CoreMod infrastructure enhancement program, with objectives to shift core applications to a new data center by December 2026. This effort marks a crucial advancement in securing the durability and robustness of Australia’s financial framework.

Importance of CoreMod

The CoreMod initiative tackles the escalating challenges posed by outdated IT infrastructure. Through system upgrades, the RBA seeks to reinforce the resilience of its essential operations, ensuring seamless service for Australia’s financial community.

Crucial Partnerships Propelling CoreMod

CDC Data Centres Establishes Colocation Agreement

The RBA has selected CDC Data Centres to host its new primary data center as part of a $37 million colocation agreement that extends to March 2034. This site will underpin the RBA’s revamped IT ecosystem.

NTT’s Contribution to Infrastructure Development

In August, the RBA retained NTT to craft and execute the new IT infrastructure. This $12.7 million contract will extend through October 2025, focusing on creating state-of-the-art systems to facilitate the migration and ongoing operations.

Governance and Supervision

For the program’s success, the RBA is setting up a new Governance Board that will manage the CoreMod initiative and other significant projects, offering direction and ensuring alignment with the bank’s strategic vision.

Timeline and Future Actions

The transition of core applications is anticipated to take place from June 2025 to December 2026. In preparation, the RBA will concentrate on establishing the essential infrastructure and governance structures conducive to a seamless shift.

Stages of the CoreMod Project

• 2023-2025: Design and preliminary setup of infrastructure by NTT.
• Mid-2025: Migration phase initiates, moving applications to the CDC site.
• By December 2026: Finalization of the migration phase.
• 2034: Conclusion of the colocation contract with CDC Data Centres.

Conclusion

The CoreMod migration initiative by the Reserve Bank of Australia represents a crucial effort to modernize its IT framework for enhanced resilience and risk mitigation related to aging systems. With key collaborations in place, notably with CDC Data Centres and NTT, the RBA is poised to embark on a multi-year journey to secure its operations for the future. The success of this program will significantly impact the stability of Australia’s financial systems.

Q&A: Understanding CoreMod Migration

Q: What does the CoreMod program entail?

A:

The CoreMod program is the Reserve Bank of Australia’s initiative to modernize its IT infrastructure. It focuses on replacing outdated systems, mitigating risks, and bolstering the resilience of essential operations.

Q: Who are the primary partners involved in this initiative?

A:

CDC Data Centres is delivering colocation services through a $37 million agreement, while NTT is responsible for the design and execution of the new infrastructure for $12.7 million.

Q: What are the migration timelines?

A:

The migration phase is scheduled to occur from June 2025 to December 2026, with the complete project expected to conclude by 2034.

Q: What risks does the CoreMod program seek to address?

A:

The program seeks to tackle risks associated with legacy infrastructure, including obsolescence and vulnerability to interruptions, by modernizing systems and enhancing resilience.

Q: What is the function of the new Governance Board?

A:

The Governance Board will oversee the CoreMod program, ensuring accountability and alignment with the RBA’s long-range objectives.

Q: How much financial commitment is the RBA making for this initiative?

A:

The RBA has allocated $37 million for colocation services with CDC Data Centres and $12.7 million for NTT’s infrastructure design and execution, in addition to other undisclosed expenses.