Westpac Group will increase its annual investment spend by 20 per cent to $1.3 billion, the majority of which will be dedicated to technology, digital and simplification projects. Providing the details of its new service-led strategy on Monday, Westpac Group said it aims to improve the depth and duration of customer relationships, adding over one million new customers by 2017, and increasing the number of products per customer.
Underpinning the program will be continuing consolidation of the bank’s infrastructure, including increased use of private and public cloud. Westpac expects material cost savings over the next three years from leveraging hybrid cloud technology, and has already carried out significant efforts to consolidate data centres and implement virtualisation solutions but still has discrete infrastructure for Westpac, St George and BT.
At the strategy update, Westpac CIO David Curran outlined a vision for the Group’s infrastructure where hybrid cloud and traditional infrastructure will co-exist. Private and public cloud and traditional infrastructure will sit underneath a single platform delivered as a platform-as-a-service to the bank, Curran said.