Next Bank head resigned over costly IT: legislatorFORCED OUT? Following an on-site inspection, the Financial Supervisory Commission (FSC) mandated an update to the bank’s system. The bank’s internal rules stipulate that purchases of more than NT$5 million require approval by the board, Fai said, adding that the board did not discuss the matter. “The board meeting in February did not discuss the matter,” Liu said. Next Bank said in a statement that it is still in the procurement process for the improvement of its IT system, adding that it would proceed in line with internal control requirements.
Source: Taipei Times April 14, 2021 15:56 UTC