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flag Bank of Queensland cuts 200 jobs and shifts some roles offshore amid digital transformation, citing financial crime and efficiency.

flag Bank of Queensland is transforming operations through a partnership with Capgemini, cutting 200 roles in contact centers, lending, and audit, with up to 48 financial crime positions potentially moving offshore. flag The bank, facing a 53% drop in net profit to $133 million due to remediation costs and restructuring, says all staffing decisions comply with AUSTRAC regulations and involve employee consultation. flag CEO Patrick Allaway reported 44% of retail customers have moved to a new digital platform, with full migration expected soon. flag The bank plans to retire legacy systems but maintain physical branches, especially in Queensland, as their role evolves. flag Leadership emphasized the need for technology and external expertise to combat financial crime and ensure long-term sustainability.

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