Westpac pursues its digital banking strategy with the deployment of an Android banking application


Westpac said more than 800,000 customers with a mobile running Android 10+ will be upgraded to the latest version of its app in the coming weeks.

After testing with over 20,000 customers, the updated application includes features such as smart search to allow customers to quickly locate banking services or transactions across multiple accounts; a digital card where customers can access a digital version of their card in the app that can be used for purchases; a card hub allowing customers to consolidate their debit or credit cards in one place; and accessibility improvements, including making it compatible with screen readers and voice-over technology for customers who are hearing or visually impaired.

The rollout follows the app’s introduction to the bank’s 1.7 million iPhone customers earlier in the year.

“Mobile has become the channel of choice for customers, with more than 84% of digital banking services for consumers and businesses taking place on a smartphone or tablet,” said Chris de Bruin, general manager of banking services for consumers. individuals and businesses of Westpac.

“We wanted to create an app where we put the customer in control and give them on-demand access to their finances, wherever and whenever they want.

Westpac’s announcement follows Bendigo and Adelaide Bank outlining how it plans to leverage the digital capabilities it has gained through its recent acquisition of Melbourne-based fintech Ferocia to evolve its digital banking platform. mobile only.

Up CEO Xavier Shay said the first taxi would be launching a new home loan product called Up Home next year, which will use data analytics to help clients budget, as well as to help manage repayments and understand what “good health” looks like with a home loan.

During a market briefing on Friday, Bendigo and Adelaide Bank CTO Ryan Brosnahan also took the opportunity to highlight the bank’s successful transformation so far.

These include reducing the number of technology applications it executes by 13%, from 653 to 570; the start of the integration of its Delphi and Alliance activities into Bendigo products and systems, the first of which will be completed in the next quarter; and establish a multi-cloud capability that makes it easy to move containerized workloads from Amazon Web Services to Google within days.

He also noted that the bank has moved 10% of its target state-owned technology applications to the cloud, and for new and upgraded applications, it has implemented more than 80% directly in the cloud.

Brosnahan added that Bendigo will also deploy a transparent way for customers to authenticate their phones for mobile banking in the first half of next year.

“We are focused on digitizing good experiences and interactions with our customers to make those interactions easier and more convenient. This focus on digitization through a lens of operational excellence allows us to eliminate friction, reduce our costs, improve speed, consistency and scale for growth while being more productive ”, a- he declared.

For fiscal 2021, Bendigo announced a whopping 172% increase in statutory net profit from A $ 193 million to A $ 524 million, while operating expenses exceeded the A $ 1 billion mark, this which was affected by the company’s decision to accelerate its technology and transformation. spend.

The bank spent A $ 165 million in the year on growth and transformation spending, which is significantly higher than A $ 91 million the year before. Of that total, 24% was invested in core technology, 31% in risk and compliance, and while the bulk of the 35% was spent on growth and productivity.

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