National Australia Bank Making Bold Changes to Secure Its Future by Integrating Risk and Finance
By Jenna Danko on Aug 21, 2013
National Australia Bank (NAB), founded in 1893, is a financial services institution serving over 12 million customers with a full range of retail, commercial and wealth management services and products. NAB operates in more than 1,750 stores and service centers globally. They are ranked as the 17th largest bank in the world.
Like most financial institutions, National Australia Bank found that the traditional rules of banking no longer applied. In today’s extremely challenging and low growth environment, it needed to transform itself in a bold manner. In one example they begun a massive re-engineering of their back office, the true engine of the business: risk, treasury and finance. “This will be a huge catalyst for us to jump ahead of our competitors and give us advantages on a whole number of levels in terms of how we interact with our customers, the productivity and thereby the cost base that we have to deliver those products and services.” Gary Lennon, Executive General Manager, Finance.
This video tells how NAB has gained global attention with its overhaul of enterprise risk and finance. Hear how they have begun to break down the traditional barriers of enterprise wide visibility and improve the efficiencies required for its future success.
Questions or comments? Bill Greene is the Global Solution Manager for Enterprise Risk and Finance in Oracle’s Financial Services Industry Business Unit. He can be reached at bill.greene AT oracle.com.