On February 25, 2015, David Tanis, Manager of Information Systems and Frontline Analytics for Commonwealth Bank of Australia was quoted during a Gartner Information Management Summit in Sydney as saying:
“The policy needs to be clear," said Tanis. "We like our data managed by the company, for the customers and kept here in Australia."
Also in late February, 2015, the Bank of Queensland (Australia) announced that it is abandoning its Salesforce-based CRM system, due to “a failure to meet operational and regulatory requirements” with the cloud-based computer system. The Bank took a $10 million write-off. Liam Walsh, the reporter at the Brisbane Courier-Mail who wrote this story explained:
“Cloud-based systems and outsourcing of information-technology have previously been in the sights of the banking watchdog, the Australian Prudential Regulation Authority. APRA just last year, in a response to the Financial System Inquiry, said while it was not in favour of one technology or another, it had key concerns about cloud computing. These were for banks to be able to continue operations following a loss of cloud services, and issues surrounding confidentiality of data and meeting prudential requirements.”