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Bank of Queensland cuts 200 jobs and shifts some roles offshore amid digital transformation, citing financial crime and efficiency.
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.
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.
CEO Patrick Allaway reported 44% of retail customers have moved to a new digital platform, with full migration expected soon.
The bank plans to retire legacy systems but maintain physical branches, especially in Queensland, as their role evolves.
Leadership emphasized the need for technology and external expertise to combat financial crime and ensure long-term sustainability.
Bank of Queensland recorta 200 empleos y desplaza algunos roles al exterior en medio de la transformación digital, citando el crimen financiero y la eficiencia.