While we now live in a world of online banking, it wasn’t always this way. Telephone banking came before digital; prior to that, a lot of queuing, hard cash transfers and bank tellers stamping bits of paper. To get from there to where we are today didn’t take too long, but it did take one bank to be the first to enter this brave new world of internet banking. And one company had to be the one to build the technology.
In 1998, Adelaide Bank made the bold move to give digital banking ago and the two tech-savvy individuals who made it happen were Sandstone Technology’s Bob Hall and Violet Yu. Now, as Sandstone Technology’s CEO and Director, People and Performance, respectively, Bob and Violet have a global staff approaching 350, and have gone on to create digital banking solutions for every bank you can think of. However, back then it was just the two of them in a home office, fresh off the back of years of working for IBM.
“Sandstone Technology is only my second ever job,” laughs Bob. “I joined IBM as a sales engineer straight after completing my mathematics degree. Violet and I both worked at IBM servicing the banking industry, so when we quit our jobs, we had context and knowledge of the sector. We knew we wanted to write a software solution for an industry and, because internet banking looked like the new growth area for banks, we decided to start there.”
“We gave ourselves 12 months to create software and find a customer,” says Violet. “After the 12 months was up, we called everyone we knew in Australia and even reached out to banks in South Africa and Indonesia. No-one was interested, but we really believed in the product so we kept at it for a bit longer and then made the call to Adelaide Bank.”
This story is from the July 2020 edition of The CEO Magazine - ANZ.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 2020 edition of The CEO Magazine - ANZ.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
There Were No Unknowns For Us
Putting discipline at the core of figurehead construction helped it survive both the global financial crisis and the covid-19 pandemic, says managing director Joe Grasso.
The Future Is Digital
We are watching a lot more television as a result of the pandemic, but as the senior vice president, head of streaming for 10 viacomcbs Liz Baldwin explains, the way we view it has totally changed.
The Ultimate Investments
With the global economic recovery from the pandemic underway, many analysts are suggesting now is the time to invest – but will whisky, soybeans or bitcoin find a way into your portfolio?
Once in a LIFETIME
CO-FOUNDER AND MANAGING DIRECTOR OF INTEGRITI PROJECTS ANDREW STENOS IS BUILDING MORE THAN BESPOKE HOMES. HE’S ALSO BUILDING DREAMS FOR CLIENTS WHO KNOW EXACTLY WHAT THEY WANT.
PUTTING FAMILY FIRST
COUNTRY LIVING HOMES MANAGING DIRECTOR MARK RAVENSCROFT HAS OVERSEEN IMPRESSIVE GROWTH, BUT NEVER LOST SIGHT OF WHAT MAKES THE SOUTH AUSTRALIAN CONSTRUCTION BUSINESS SUCH A SUCCESS.
“A SAFER COMMUNITY IS MY MAIN PRIORITY”
ULTIMATE SECURITY CEO NASSIM SAID HAS BUILT A HIGH-TECH SECURITY ORGANISATION FROM THE GROUND UP, ALWAYS WITH COMMUNITY SAFETY IN MIND AND AN INSISTENCE ON FAMILY VALUES.
We Did It Our Way.
WHEN STEVEN SIMEONI FOUNDED TAS CITY BUILDING, HE KNEW HE WANTED TO DO THINGS DIFFERENTLY.
FROM PRECISION TO PREZZEE
A COMMERCIAL PROPERTY BARON AT 24, PRECISION GROUP BILLIONAIRE SHAUN BONÉTT HAS BUILT HIS CAREER ON UNDERSTANDING THE RETAIL MARKET. NOW HE’S INTRODUCING PREZZEE, THE DIGITAL GIFT CARD PLATFORM THAT’S CHANGING THE WAY WE GIVE.
HIGHWAY STAR
IN REGIONAL AUSTRALIA, WHERE TRUCKS ROUTINELY NAVIGATE VAST STRETCHES OF HIGHWAY, THE ROAD BETWEEN AGRIBUSINESS AND COMMUNITY IS SHORT. DENILIQUIN FREIGHTERS IS AN OLD HAND AT THAT ROUTE, WHICH CEO VICKI MEYER SAYS IS ITS MOST IMPORTANT ONE.
BENEATH THE SHEETS
A GOOD NIGHT’S SLEEP GOES A LONG WAY TOWARDS MENTAL WELLNESS, AND AH BEARD CEO TONY PEARSON BELIEVES THE OFT OVERLOOKED MATTRESS IS THE ESSENTIAL INGREDIENT.
