One of the hardest parts in making any large company acquisition work is the successful transfer of the technology systems and services, and Mr Bennett said Suncorp had put in significant work to decouple its bank, before being surprised by the ACCC’s ruling.
It is beholden on Mr Bennett and his team to hand over the banking systems to ANZ, in a way that it could then integrate them into its own labyrinthine tech setup. Mr Bennett said he now faces the challenge of continuing to ensure that Suncorp bank runs effectively and doesn’t fall back in terms of innovation.
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