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Media releases

Westpac New Zealand leaders in Transactional Banking


10 May 2013 

Westpac Institutional Bank has moved into first position as New Zealand’s lead Domestic Transactional Bank, according to the benchmark annual Transactional Banking survey for New Zealand by Peter Lee Associates announced today.

Based on feedback from 186 respondents, Westpac New Zealand was placed No. 1 Domestic Lead Transactional Bank after sharing the top position for the last two years.

For Domestic Transactional Banking penetration, Westpac has strengthened its position from third to equal first position and up a notable 8 percentage points to 48 per cent, on market penetration. The bank’s Relationship Strength Index has also improved.

Westpac Institutional Bank, New Zealand General Manager, Karen Silk is delighted with the strong performance in the 2013 Transactional Banking Survey.

“It’s an intensely competitive environment.  For us at Westpac, it’s about working closely with our customers to really understand them and to be there with transactional banking and payment solutions that benefit their businesses,” Ms Silk said.

Westpac New Zealand Chief Executive Officer, Peter Clare said “We are particularly proud of the jump in our Relationship Strength.  It’s a clear demonstration that our customer focused strategy is providing the support our customers are asking for.”

“We’re honoured to receive this high recognition from our institutional customers and remain committed to deliver as New Zealand’s number one Transactional Bank,” Mr Clare said.

In addition to these outstanding results Westpac’s corporate banking platform “Corporate Online” is now ranked in equal No.1 position in line with our strategy of providing high quality, high functionality with our online solutions.