Westpac registered a 3 per cent increase in costs for FY16 in line with the group’s revenue growth, with CEO, Brian Hartzer, telling a full year results briefing that the bank’s investment spend would help put it in good stead for future returns.
Westpac Group will increase its annual investment spend by 20 per cent to $1.3 billion with the bulk of it dedicated to technology, digital and simplification projects, the bank announced today.
St George Bank, viewed as the 'innovation hub' of Westpac, has adopted a 'mobile only' strategy, according to CIO Dhiren Kulkarni.
Westpac Group has unveiled an innovation centre dubbed The Hive in Kogarah, Sydney today to develop more services for its 10 million customers in Australia.
Westpac has signed a new five-year deal with Optus, with the telco to continue managing 13,000 mobile devices for the bank.