Australia-based lender Westpac has completed the first phase of implementing a new online and mobile banking platform, which will be launched by early 2014, while the core platform modernisation is expected to be completed by 2017.
Speaking during the presentation of its 2013 full-year results, Westpac Banking CEO Gail Kelly was quoted by Financial Review as saying that the first phase of its $2bn strategic investment priorities (SIPS) programme was complete.
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The bank started moving onto the consolidated core banking platform in 2010, when it signed a deal with Fiserv for its Corillian system. Currently, the platform is being used by 4,500 employees and a small number of customers under the pilot programme.
The bank said its new customer online platform was built with an eye on mobile customers, and would provide a single view of family finances, email and SMS alerts, display of credit card purchases, search up to three years of transaction history online, and consistent interface across all of its platforms.
Kelly said the first phase of the new wealth platform is expected in the next quarter, and is aimed at giving investors and financial advisers a complete view of all their finances including investments, super and insurance in one place, alongside their bank accounts, credit cards and mortgage.
According to the banking group, initially Westpac and St George brands will share a common infrastructure access layer, which will be followed by St George moving to new version of CSC-made Hogan core bank platform, Cleleriti, which will again be followed by Westpac.
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