Briefs: Kiwibank broker buy, CUA IT fixed

Kiwibank has bought out minority owners in mortgage broker New Zealand Home Loans. The bank first bought a 51 per cent stake in 2006 and has increased its stake over time. It has now bought the remaining 24 per cent stake, which was owned by foundation investors. The broker originates about 30 per cent of Kiwibank's mortgage business, Interest.co.nz reported.

Credit Union Australia has "just finished" remediating its information systems, following the disruption to service in January 2011, which was brought about by the flooding of the Brisbane River. David Gee, chief information officer of CUA, who began work shortly after the incident, told ZDNet that "APRA hadn't been here for a long time, but it was very concerned about where CUA was at, from a business resilience standpointâ€¦ The incident was obviously taken very seriously."