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CommBank issues apology to customers for network issues

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Image: Asha McLean/ZDNet

Commonwealth Bank of Australia (CBA) issued its “sincerest apologies” to customers on Thursday afternoon, notifying them that its systems are experiencing network issues.

“We are experiencing an issue with our network this afternoon that is affecting banking services,” the bank wrote in an email to customers.

“We are very sorry for the inconvenience this is causing you.”

The bank confirmed network issues have resulted in BPAY services, including PayID payments and cardless cash, being made unavailable, as well as some in-branch services, call centre services, CommBiz log on, and some CommBiz payments.

In addition, the bank said some debit card payments may be affected, while the CommBank app and Netbank is still available, but with limited functionality.

A small number of branches have also closed as a result of the network issue, the bank said.

See also: NAB launches Australia-wide small business cyber roadshow

The bank added it is “working urgently to fix the problem and will have services restored as soon as possible” and will keep customers updated with regular posts on its website and via its social media pages. 

The hiccup comes a day after the bank claimed it would spend over AU$5 billion on technology in the next five years in a bid to improve its systems and services. 

As part of the bank’s 2019 annual general meeting, CBA CEO Matt Comyn said as customers increasingly choose to interact with CBA online, being the “best in digital” will continue to be a key part of the bank’s strategy.  

“With 7 million active digital customers and 7.4 million logons per day, we’re doing all we can to make banking more personalised and more convenient,” he said.  

For the 2019 financial year, Commonwealth Bank reported AU$8.6 billion in statutory net profit after tax, slipping 8.1% from the AU$9.3 billion that was recorded a year prior.

Operating expenses increased slightly for the bank by 2.5% to $11 billion. Of that amount, AU$1.9 billion was spent on information technology services, 8% more than FY18, primarily due to increased IT infrastructure costs, risk and compliance spend, and software license costs.

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Cars

The Bizarre Porsche Cayenne That Was Never Actually Made

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Porsche’s engineers eventually came up with two designs for the Cayenne-PMF, both of which varied predominantly over the tail light. But ultimately, the entire idea was canned. With the Cayenne-PFM convertible idea, Porsche originally set to answer four key questions:

  1. If the windscreen and A-pillars are reduced, and the roof tapers over the rear half, would the car still offer a comfortable seating experience?
  2. If the Cayenne’s doors are elongated by 20 centimeters and it is offered as a two-door model, does it make sense from a practical standpoint?
  3. Is it possible to accommodate a quick-folding soft-top roof that also meets Porsche’s standards for quality and design?
  4. And the most important question of them all: How the rear should look?

Michael Mauer, Chief Designer at Porsche, remarked that “an SUV as a convertible is a challenge both aesthetically and formally.” Mauer, who wasn’t a part of Porsche back then, added that “very strange shapes” emerge when an SUV’s bulky body is amalgamated with a convertible’s smaller, open-roof looks (per Porshe). However, it was not the just aesthetic and practical failures that put the Cayenne convertible plans on cold ice. 

“Forecasts regarding profitability were not particularly promising and doubts remained as to whether the car would look as appealing as a Porsche should,” says the official blog marking the 20th anniversary of Porsche’s venture into the SUV segment. As for the one-off Cayenne-PMF convertible unit, it lives on at the Porsche Museum in Germany’s Stuttgart.

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Tesla Body Damage Repairs Cost Way More Than You Might Expect

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In a YouTube video, Ryan Shaw, a creator who specializes in Tesla and Tech content, described just how much it might cost to repair a Tesla after an accident. According to him, the repair cost of his Tesla Model Y after a rear-end collision was almost $20,000! Some of the most expensive parts that were replaced included the lift gate at $1,200, the quarter panel at $1,150, and the rear bumper at $680. Ryan Shaw’s Tesla Model Y was also involved in another rear-end collision with a repair bill that cost around $10,000. Lucky for him, the repair costs of both accidents were covered by insurance.

It’s not the first time that Tesla vehicles have proven to have expensive repair bills — a windshield replacement for a Tesla Model X could cost you as much as $1,311 without labor. Another YouTuber, Rich Rebuilds, claims he fixed a Tesla Model 3 at his garage for $700 after Tesla estimated the repair cost at $16,000. Also, a Tesla owner based in Finland decided to blow up his Model S after Tesla estimated a cost of $22,600 to replace the battery (via Gizmodo).

Similar stories are all over the internet, and even though the can’t all be verified, it’s a concern that most Tesla owners complain that repair costs are too expensive without a warranty or insurance cover. At the moment, Tesla discourages its customers from taking their cars to third-party repair services.  

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Supercar Brands You’ve Probably Never Heard Of

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In 1990, an unnamed businessman from the UAE contacted German racing car manufacturer Lotec and asked for the fastest car in the world. With the promise of a blank check, Lotec began developing the car in 1991, and by 1995, the C1000 was finished. It featured a 5.6L Mercedes twin-turbocharged V8 engine that made over 1,000 horsepower. According to Motor1, Lotec claimed the car had a 0-62 mph time of just 3.2 seconds, and a top speed of 268 mph. The C1000 was strictly a one-off, but at a development cost of $3.4 million, it’s not like many other buyers could have afforded one anyway.

Creating the C1000 gave Lotec owner Kurt Lotterschmid the supercar bug, and shortly after development finished, he set about building a follow-up. By 2001, the brand’s next car, the Sirius, was unveiled. It was planned that five units a year would be created, each car selling for $462,000. The Sirius featured a mid-mounted Mercedes V12 making 850 horsepower, with many of the car’s internals derived from Lotec’s racing parts bin. It was a similar recipe to the Pagani Zonda, which launched just a few years prior, and shared the same engine. However, unlike Pagani, Lotec couldn’t drum up much interest in its ultra-expensive supercar, and only one example of the Sirius ended up being built.

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