Westpac has released new data revealing the effectiveness of Australia’s scam prevention efforts. The new analysis conducted by BDO compared Australia, the United Kingdom (UK), Canada and the United States (US) and found Australia is “one of the most successful countries” in bringing down scam… Read More
In a move to help stop bank impersonation scams and improve the customer experience, Westpac and Optus are introducing a new in-app calling capability for Westpac customers. Westpac SafeCall will allow customers “to receive calls via the app that are Westpac branded, verified by Optus… Read More
Westpac is launching Dynamic Virtual Cards for institutional, corporate and government customers, enabling fast and secure ‘tap and go’ payments, giving them greater control. Westpac’s Dynamic Virtual Card can be “used online as well as in-store via digital wallet tap and go transactions.” Jeff Byrne,… Read More
Westpac claims that it has helped customers earn $21 million in interest through savings prompts. To provide greater transparency around savings interest rates, Westpac says that it “has introduced mobile phone push notifications which alert customers about how they can earn bonus interest on their… Read More
Westpac has turned on its proprietary PayTo digital payments capability for institutional and commercial payees, with other business customers to follow by the end of the year. Jeff Byrne, Managing Director, Global Transaction Services, Westpac said that “with the sun setting on traditional direct debits… Read More
Businesses in Australia are reportedly faring well despite changing economic conditions, says Westpac’s latest business snapshot. Australian businesses are largely managing “slowing consumer demand and are cautiously optimistic as they head into 2024.” Westpac’s latest Quarterly Business Snapshot), which “analyzes millions of daily business banking… Read More
Westpac has shared new scam prevention measures for its clients. Westpac recently announced new digital payment security features “to help combat scam losses.” In an Australian banking “first,” Westpac will “integrate its sophisticated fraud detection systems with its digital payment platforms to help customers identify… Read More
Westpac recently revealed that its new cards will be making payments more accessible for customers. Westpac has announced it is rolling out “a suite of new card designs to help make payments more accessible for blind or low vision customers.” The credit, debit and pre-paid… Read More
Westpac is rolling out a new feature on its banking app, which will allow customers to estimate their carbon footprint. Westpac customers will soon be able “to track their carbon footprint, with new functionality on the banking app that enables those with eligible accounts to… Read More
Westpac will soon offer credit card customers the ability “to pay for purchases in four instalments, providing greater control and flexibility.” In the coming months, Westpac credit card customers will be able “to link their existing credit card to a new PartPay digital card, enabling… Read More
Westpac has announced that it will roll-out new technology which will “enable small businesses to accept payments from customers via their compatible Android mobile.” Westpac Tap on Phone leverages Airpay TAP technology from Australian payment technology provider Quest Payment Systems. It is being trialed with… Read More
Westpac has launched Westpac DataX, a data analytics offering that will “enable faster, data-backed decision making for [their] largest clients.” Using de-identified credit card data from over six million daily card transactions, Westpac DataX “enables self-serve analytics for our clients so they can embed insights… Read More
In its “first” major corporate milestone following its acquisition by MONEYME Ltd (ASX:MME), digital finance platform SocietyOne has launched transaction and savings accounts “powered by Westpac’s Banking-as-a-Service (BaaS).” SocietyOne is Westpac’s second partner “to launch products through its BaaS platform with two new additions to… Read More
Westpac recently announced the opening of a new technology engineering hub on the Gold Coast, which will aim to create “up to 200 additional jobs in the state over the next few years.” The opening will “enable Westpac to expand its technology, engineering, and training… Read More
The Federal Court in Australia has reportedly ordered Westpac to pay penalties in the amount of $113 million “for widespread compliance failures across multiple businesses, including Westpac’s banking, superannuation, wealth management and insurance brands.” Justice Beach recently handed down his decision “in the last of… Read More
Westpac Group recently announced the appointment of Yianna Papanikolaou to the newly created role of Chief Transformation Officer. Papanikolaou will be sitting on the Group’s Executive Team and report directly to company Chief Executive, Peter King. She will have responsibility “for major change and investment… Read More
Former senior Westpac executive Jim Tate has been appointed as the Chairman of Fintech mx51. mx51 is a payments-as-a-service provider that enables banks and non-banks to provide multi-channel payments and value-added solutions to merchants. mx51 reports that it currently powers major Australian banks and payments providers… Read More
Westpac announced on December 7, 2021, that it has agreed to terms to acquire money management app, MoneyBrilliant from AMP Limited and management shareholders. As noted in the update from Westpac, MoneyBrilliant is a budgeting and cashflow tool that “helps users manage their money by… Read More
Westpac is bringing its enhanced mobile app to Android clients, as the COVID-19 outbreak continues to accelerate the adoption and usage of virtual banking services. The app from Westpac makes it quicker, convenient, and a lot more secure for clients to effectively manage their funds,… Read More
Australia-based Buy Now, Pay Later (BNPL) Fintech Afterpay (ASX:APT) says it will be diversifying its business operations with the introduction of a “money and lifestyle” app. The Money app has been developed following Afterpay‘s partnership with Westpac. Through their collaboration, Afterpay is able to operate… Read More
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