At Reseller News, Rob O’Neill writes:

Kiwibank has booked a $90 million impairment in its software assets and flagged a major change in its SAP core banking roilout.

“Although the strategic review has not yet concluded, a potential change to how we build the core ‘back end’ IT system (CoreMod) to match the demands of the ‘future front end’ has prompted a re-assessment of the value of the work in progress since successfully migrating our batch payments to SAP,” the bank said today.