Remediation still costs billions — and Bluline’s bringing the fix
The Capital Brief piece explores how banks continue to wrestle with legacy issues as well as new ones triggered by technology updates, product rollouts, and regulatory shifts
Years after the Royal Commission, Australia’s biggest banks are still paying hundreds of millions annually in customer remediation—and the operational burden isn’t going away. As Andrew Cornell highlights in a new feature for Capital Brief, remediation remains a complex, costly, and painstakingly slow process for the sector. But it’s also a space ripe for innovation—especially with the right tech.
Bluline Technologies is leading that change.
“There was definitely the big wave of remediation up front,” our own Aidan Carleton, CEO and co-founder of Bluline, says in the article. “But people quickly realised there are more issues that need to be resolved. It’s an ongoing thing. There’s still lots of incidents created every month, still, in all the large organisations.”
The Capital Brief piece explores how banks continue to wrestle with legacy issues as well as new ones triggered by technology updates, product rollouts, and regulatory shifts. And despite AI's potential, the current reality is that too much remediation still relies on manual processes—and that’s where Bluline comes in.
Carleton, along with co-founders Karl Nelson and Mark Atkinson, built Bluline to take the pain out of the remediation process.
“Today, still, too much is bespoke and done manually on Excel,” says Nelson.
Bluline’s approach standardises and modularises remediation workflows, replacing inconsistent spreadsheets and costly delays with end-to-end automation—including testing and compliance.
Cornell’s article also touches on the limitations of AI in remediation, a space where accountability and transparency are essential for regulatory compliance. “At Bluline, we’re doing the engineering first, getting the fundamentals right, before we leverage the powers of AI,” Carleton tells Capital Brief. “But it’s an expanding space.”
With ASIC reporting nearly 12,300 breaches in FY24 and more than 490,000 customers impacted, the costs—both financial and reputational—continue to mount. Bluline is helping banks and financial institutions break that cycle.
The full article is a must-read for anyone tracking the post-Hayne trajectory of remediation—and the tech that’s transforming it.
