Westpac hopes problems associated with inflexible tech platforms are history as it plans a cloud-based future, with a regular supply of fresh fintech services.
Westpac Banking Corporation’s technology boss said it will up the ante on its push to adopt more cloud computing services and infrastructure, after signing a new five-year partnership agreement with US tech giant Microsoft, to give it access to the latest advances and its top tech developers.more efficient operations to investors and announced a reorganisation of its technology operations as part of a corporate restructure late last week.
the Microsoft deal would now play a big part in plans to modernise its systems and help it work with local and international fintech start-ups.Westpac chief executive Peter King flagged an executive restructure to simplify the bank’s operations, which he said needed to be fully digitised and capable of using cloud-based technologies to pull together lots of different services quickly.
, where all of its customer data can sit and be used to offer tailored services and financial advice.“Essentially that is now our main platform for the bank and is where our data assets go into,” Mr Walker said. “This is really important because big data systems in the past have been a nightmare to evolve, they took years to build and become a bit of a legacy before they’re finished. Now we are moving into an era where we will be able to lift and migrate to the latest platform with relative ease.”