Bank computing in a changing economic environment: the IBIS project in New Zealand

What is it about?

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.

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Why is it important?

There are few sources of information about the IBIS project in New Zealand, and this article provides important historical context to the development of banking in New Zealand.