Westpac's response to the Final Report of the Financial System Inquiry
1 April 2015
The Westpac Group (Westpac) welcomes the opportunity to respond to the recommendations of the Financial System Inquiry’s Final Report (Final Report).
The Inquiry is an important endeavour in ensuring that the financial system continues to support Australia’s growth. Westpac’s contribution throughout the course of the Inquiry has focused on the important structural changes affecting the financial system, including:
- Global and domestic regulatory reform following the Global Financial Crisis (GFC);
- Demographic change in Australia, particularly ageing;
- The growth of the superannuation sector; and
- Developments in technology that profoundly change the customer experience.