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Three of the big four banks will spend more than $4 billion overhauling their IT systems.
The Commonwealth Bank of Australia, National Australia Bank and Westpac have announced they will upgrade their IT systems in order to improve service delivery.
The IT upgrade will allow customers to access more bank information on their smartphones, thus reducing the need for counter staff.
A spokesperson for CBA said while the overhaul comes at a price, it will be money well spent in the long run.
