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Enterprise Tech Ecosystem Series: Westpac

Westpac Banking Corporation is a provider of personal, private, business, and corporate banking solutions. Its portfolio of products consists of accounts, cards, life and non-life insurance, personal and business loans, mortgages, overdraft facilities, banking solutions, and financing and leasing. Westpac provides retirement planning, advisory, merchant, foreign exchange, industry-specific banking, capital advisory, transaction banking, and financial market solutions. It serves retail, commercial, government, institutional, and SME clients. The group has an operational presence in Asia Pacific, Europe, and North America.

This report provides insight into Westpac's fintech activities, including its digital transformation strategies, its innovation programs, its technology initiatives, its estimated ICT budget, and its major ICT contracts.

Scope

– Westpac has been using technologies such as AI and data analytics to transform its business model and meet customers’ digital expectations, besides focusing on other growth opportunities.

– Westpac has invested more than A$800m ($527.7m) in system upgrades and its digital innovation plan to improve operational efficiencies and enhance the customer experience. The company has migrated 100 applications from physical servers to a centralized cloud infrastructure platform to simplify and streamline its processes.

– Westpac appointed Jason Hair as chief digital officer in April 2020. Hair is responsible for driving the bank’s digital strategy by enhancing its digital capabilities and evolving its products and services to deliver personalized banking experiences.

Reasons to Buy

– Gain insight into Westpac’s fintech operations.

– Discover its fintech strategies and innovation initiatives.

– Learn about its product launches, partnerships, investments, and acquisitions.

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Table of Contents

Table of Contents

Overview

Digital Transformation Strategy

Accelerators, Incubators, and Other Innovation Programs

Technology Focus

Technology Initiatives

Venture Arm: Reinventure

Investments

Acquisitions

Partnership, Investment, and Acquisition Network Map

ICT Budget and Contracts

Key Executives

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