ANZ received advice from consultancy Ernst & Young in July 2010 to standardise head office IT systems on Oracle,
The Australian reports.
A follow up review by consultants Accenture and completed in April 2011 highlighted a range of risk management weaknesses for the bank. The Australian reported on the Accenture review
last week.
The 2010 report by Ernst & Young report into 11 projects concluded that $74 million could be cut from an initial budget of $300 million for IT projects over four years to 2013.
The study outlined Oracle features and the expected benefits, as well as a comparison between the vendor's offerings and their maturity levels, the newspaper reports.
While ANZ engaged Oracle for some projects, SAP, another global supplier of enterprise systems to banks, may still be in the running according to the newspaper.