Bank Computing in a Changing Economic Environment: The IBIS Project in New Zealand
Claire D. Matthews
Massey University - School of Economics and Finance
David W.L. Tripe
Massey University - School of Economics and Finance, Palmerston North and Wellington
Accounting Business & Financial History, Vol. 14, No. 3, pp. 301-315
This paper examines a major bank computing redevelopment attempted in New Zealand in the 1980s - the IBIS project. After the expenditure of some hundreds of millions of dollars this project was not proceeded with and this paper looks at the factors that led to its eventual failure. We find that dreams of banking technology can be as costly as other failures experienced by banks, and that banks must have regard to the competitive environment in building their computer systems.
Keywords: Banking technology, Computers, New Zealand, IBIS project, Project budgeting
JEL Classification: G21, O32, O33
Date posted: February 23, 2007
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