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Our innovation philosophy

Innovation is at the heart of Westpac’s purpose to Help Australians and New Zealanders Succeed. But we can’t innovate alone. We need to partner with the best start-ups to meet our customers’ needs and remain relevant in a changing world. That’s why we strive to be the first bank start-ups choose when partnering.

How we partner to drive innovation

A faster simpler way to pay, with PayID

Make payments in real-time, 24/7 between participating banks using a PayID or a BSB and account number.

Principal Investments

Westpac invests in new businesses to solve strategic challenges, deliver technology capability, and open new growth opportunities.


Westpac’s $150m venture capital fund committed to early stage ventures.

Strategic Partnerships

Westpac partners with start-ups to create new shared value opportunities across any of our products, services, channels or markets.

Solving industry challenges

We invite start-ups to join us in collaborating with our Government and Industry clients to solve key strategic challenges at our Hackathons, Innovation Challenges, and other events we run.

Supporting Australian innovation

We invest in initiatives which support the next generation of leaders and innovators because we believe this is an important way to advance Australia over the next century.

Open Banking

Enabling our customers to share their banking information easily and securely.

Banking as a Service

Banking is becoming increasingly embedded in digital experiences. To meet this trend, Westpac has created a modern Australian banking platform, offered to partners as a service.

Take the reins on payments with PayTo

See, review, and authorise payments for things like recurring bills, subscriptions, memberships and shopping and more before money leaves your account with PayTo.

Our latest partners and portfolio investments