Fintech
News and insights for IT executives about the evolving financial world driven by fintech that increasingly includes digital payment technology, financial inclusivity, cryptocurrency, online banking, and more. Examines innovations that can emerge from startups yet may signal changes to incumbent financial institutions. This can include adoption of digital currencies, decentralized finance systems that can eliminate intermediaries, and the introduction of new regulatory policies in response.
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SAP Australia, bestowing anthropomorphic status on the old term "rip and replace," says it is performing a "heart and lung transplant" for Commonwealth Bank as it and Accenture replace brittle systems more than 40 years old. The new systems, SAP says, will let Commonwealth crank out new financial products "in days" instead of "in months and months and months."