Bank looks to cloud to blow away licence costs

COMMONWEALTH Bank is in high-level talks with cloud computing companies to speed up the launch of new products such as a digital-vault secure storage service for customers.  

"We can then free up our resources to focus on higher value activity closer to the customer and deliver service more rapidly and cheaper."

There was still resistance from classic box providers, but if that was prolonged it could be to the detriment of vendors, he said. "That's understandable ... they're not too keen on virtualisation, grid or cloud (but) market forces will break that."