Bank of Queensland (BoQ) has selected a new IT head from the ranks of Telstra, with experience in banking, IT services, and telecommunications fields.

BoQ expects to automate 80 percent of key processes between FY23 and FY26. BoQ’s digitisation foray saw it acquire ME Bank in February 2021, which at the time marked its first digital-only bank.

Why it matters: BoQ shares have dived again after FY23 profits fell below expectations. Cash earnings fell 8pc to $450m amid a swirl of scrutiny from the market and regulators. CEO Patrick Allaway ...