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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.
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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.
