Westpac Group

Our strategic priorities

Consistent with our business strategy, our priorities are centred on continuously improving our customer relationship capabilities and offerings, specifically to:

Focus on chosen customer segments, aiming to deepen relationships with customers, especially in savings and wealth management by

• putting the customer at the centre of everything we do;
• establishing and driving high performing and locally empowered businesses close to the communities they serve;
• developing and implementing compelling customer segment strategies, bringing banking and wealth management together for the customer; and
• strengthening the skills and depth of our people.

Become faster, simpler, more efficient and easier to do business with

• by having processes and solutions designed from the customer’s perspective;
• through a focus on convenience, simplicity and flexibility; and
• reducing the cost to serve customers across the business through streamlining processes, continuing the integration of back office processing and reviewing our sourcing and procurement arrangements

Realise our multi-brand advantage by

• gaining new customers through offering greater choice and access to customers who have a preference for a local banking brand and customers who prefer a strong national brand;
• meeting customer preferences and building deeper customer relationships; and
• continuing to increase the productivity and efficiency of the multi-brand model by leveraging expertise and sharing costs across the Group.

Make our people an important part of our advantage

• through tailored recruitment and induction processes;
• with a continuing focus on training and coaching; and
• by having a flexible and diverse workforce.

Deliver on our strategic investment priorities

• the strategic investment priorities are a suite of major investments designed to enhance Westpac’s systems and technology infrastructure; and
• the investments are initially focused on improving capability close to the front line including a new teller and call centre platform in Westpac, a new online platform across the Westpac Group and the development of critical infrastructure that supports multiple brands

Lead in reputational and sustainability matters

• by ensuring that each decision we make is consistent with our customer-focused strategy, and by continuing to actively support the communities in which we operate;
• through further embedding sustainability concepts in all elements of our businesses;
• through ongoing joint endeavours with our not-for-profit partners; and
• by continuing to develop strong risk management capabilities as a competitive advantage.