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NAB to hire 600 technology specialists

The big four bank has announced that it will immediately hire 600 technology specialists in the areas of software engineering, data, architecture and security.

The recruitment initiative, coming just a week after the bank suggested that it could cull 6,000 jobs by 2020, forms part of the bank’s plan to create up to 2,000 new jobs by 2020 to meet the changing needs of customers.

Chief technology and operations officer Patrick Wright said that NAB is looking both locally and overseas for the “best talent” to join its technology and digital teams.

“We want the top talent in the industry to come and join us as we change dramatically to become the very best bank we can be and give our customers the products and services they demand and deserve,” Mr Wright said.

“We know this is an ambitious target and acknowledge [that] the war for talent is intense, but these are the essential skills and roles we need in order to deliver our plan.

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“We’re looking at the skills needed inside and outside our business to make sure that we can run our systems and service our customers as best as possible.”

NAB has been increasingly focused on tech and innovation, following the establishment of its innovation incubator, NAB Labs, and innovation fund, NAB Ventures; the launch of business lending platform QuickBiz; and the continued rollout of Customer Journeys.

It also recently announced a $4.5 billion investment into the bank over the next three years, with much of that funding directed to technology and digital priorities.

“This significant investment will help change the way we provision technology services, which is critical to delivering more effectively to balance innovation with resilience, and speed with security,” the chief technology and operations officer said.

“We understand what the fintechs across the world are doing, and we think we can do better, but we need to move now, invest in the right systems and people, and change dramatically.”

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The major bank has already announced that it has appointed HSBC Group London’s former digital CIO, Yuri Misnik, as executive general manager for business enabling technology, and the former head of technology at ScotiaBank, Kyle McNamara, as executive general of program management office. Both roles will report to Mr Wright.

Both NAB and ANZ have increased their focus on technology in recent years, as the advent of machine learning and artificial intelligence makes consumers increasingly expectant of stress-free and fast finance management.

[Related: NAB to axe 6,000 jobs by 2020]

NAB to hire 600 technology specialists
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Annie Kane

Annie Kane is the editor of The Adviser and Mortgage Business.

As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts. 

Contact Annie at: This email address is being protected from spambots. You need JavaScript enabled to view it.

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