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Westpac Institutional Bank Ranks No.1 in Lead Transactional Banking for the 11th year


18 June 2014

Westpac Institutional Bank (Westpac) has ranked as the No.1 Lead Domestic Bank for Transactional Banking for an unprecedented 11th year in a row, according to the annual Peter Lee (Peter Lee) Associates Survey.

Peter Lee is the banking industry’s leading survey that compares the performance of institutional banks as voted by Australia’s largest companies every year.

According to Rob Whitfield, Chief Executive Westpac Institutional Bank it is fantastic to win this as it represents the voice of our customers and the critical banking services we provide to enable their business.

 “We are honoured to receive this outstanding recognition from our customers on our Transactional Bank offering for 11 years running,” Mr Whitfield said.

“The survey is a clear acknowledgement that our customer-focused strategy continues to support our customers where it matters most,” he said.

Key Survey Findings:

  • No.1 for Lead Domestic Bank citations (11th year in a row)
  • No.1 for Overall Market Penetration (11th year in a row)
  • No.1 for Relationship Strength Index with our highest reported score in 12 years

According to Alexandra Holcomb, Group General Manager Global Transactional Services, to receive the top vote of confidence from our customers is an achievement we are certainly very proud of.

“We are grateful to all our customers for recognising the unique expertise and solutions we bring to providing critical transaction banking services,” Ms Holcomb said. 

“Ranking number one for ‘Relationship Strength Index’ with our highest reported score in twelve years, as well as number one for ‘Overall Market Penetration’ is a testament to this customer recognition.

“Our customer banking interface, Corporate Online, ranks No. 1 for Platform Performance Index in the market which reflects our focus on making it easier for customers to transact and do business across mobile, tablet and online channels,” she said.

About Westpac Institutional Bank
Westpac Institutional Bank (WIB) delivers a broad range of financial services to commercial, corporate, institutional and government customers with connections to Australia and New Zealand.
WIB operates through dedicated industry relationship and specialist product teams with expert knowledge in transactional banking, financial and debt capital markets, specialised capital, and alternative investment solutions.
Westpac Institutional Bank, a division of Westpac Banking Corporation ABN 33 007 457 141 AFSL 233714.

About Peter Lee Associates
Peter Lee Associates is a specialised Australian research and consulting firm whose mission is to help leading financial service corporations build and maintain a competitive advantage in service to their wholesale clients.
Peter Lee’s annual survey targets companies with turnover of greater than $500m per annum and is based on 576 face to face interviews with senior executives responsible for corporate and institutional banking. Peter Lee Associates Large Corporate and Institutional Transactional Banking Survey Australia. Rank vs. Top 4. Quantitative measures from 576 votes in 2014.