By Ry Crozier on Dec 21, 2020 6:57AM
Sets guardrails and controls for security, regulatory approval.
CBA has provided its first detailed look at a container-as-a-service platform it stood up for development teams, and the guardrails wrapped around it to meet regulatory and security requirements.
Lead engineer Dário Nascimento told AWS re:Invent 2020 that the bank built the platform on an AWS stack and is using infrastructure-as-code practices and tools to manage configurations and compliance.
The bank - an AWS customer since 2012 - was cited in a recent blog by AWS chief evangelist Jeff Barr, though it had been unclear for some time where its focus with the cloud lay.
The best things in the super sector in 2020 - and the worst
Chook s report card for the performance of the super fund sector in 2020 has the usual mix of good, bad and ugly results. But overall, the sector proved resilient, including providing $35.5 billion in COVID-19 emergency funding.
Dec 19, 2020 – 12.00am
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As the year draws to a close it’s time for Chanticleer’s report card on superannuation – the $2.9 trillion-dollar sector that touches every Australian, feeds a booming funds industry and is the key to financial security in retirement.
For the purposes of this scorecard, your Rooster has examined the industry’s leading players and most compelling issues and then awarded points out of 10.
Australian regulator scrutinizes super fund performance
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The Australian Prudential Regulation Authority has increased scrutiny of the performance of the country s superannuation funds.
APRA has refreshed its MySuper product heat map, which was first published last December, to intensify supervision of underperforming super funds. Superannuation fund assets totaled A$2.9 trillion ($2.06 trillion) as of Sept. 30, according to the Association of Superannuation Funds of Australia.
The December update by APRA said 11 of the MySuper products that underperformed the investment benchmarks have exited the industry over the last 12 months.
The association is also now reviewing whether eight trustees may have failed in their obligations to participants, including possible breaches of the market s industry supervision rules, in relation to 10 MySuper funds.
She said over half the products (37) assessed were performing at or above the heatmap investing benchmarks over six years, and under 40% (27) were underperforming by up to 75 basis points, and 9% (6) underperformed by over 75 basis points.
“Overall, we estimate that 900,000 members (or $31 billion in total assets as at 30 June, 2020) are invested in the six MySuper products with significant investment underperformance,” she said.
Rowell noted that, although not widespread, there were some trustees that were “clearly modifying” investment decisions to manage their performance against the heatmap.
“Others have tried to rewrite history by resubmitting data to present their funds in a more favourable light. These kinds of games indicate poor leadership, are not indicative of a mindset that is genuinely seeking the best outcomes for members and certainly won’t get those trustees off APRA’s underperformer list,” she said.
Medibank eyes at-home care as insurers fight to keep members
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Medibank eyes at-home care as insurers fight to keep members
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Private health fund Medibank will focus on expanding at-home services for complex needs including palliative care and chemotherapy as the health insurance sector grapples with how to stop members from leaving the system in 2021.
Dr Andrew Wilson, who oversees healthcare and strategy at the $7.7 billion ASX-listed insurer, said he expected more cooperation between the public and private health sectors and allied health providers into next year as the country works to take pressure off hospital systems in the wake of COVID-19.