Business
Westpac’s perennial IT fix – The Australian Financial Review
Digital transformation has been on the agenda at Westpac for 20 years and shareholders may lose patience given the bank is losing market share in mortgages.
But chief executive Peter King admitted on Monday that Westpac’s mortgage “systems, processes and policies” are so bad they are holding the bank back from being competitive and are in need of an urgent turnaround operation.
It is an indictment on Westpac’s management over several decades that its technology stack can’t cope with the bread and butter of Australian banking selling mortgages in a timely manner.
Chanticleer has watched a succession of Westpac chief information officers describe multiple…
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