Business Challenge story
Customers want a consistent banking experience regardless of how they access their accounts, but most mobile banking apps offer limited features and require multiple logins to access different accounts. Westpac New Zealand Ltd. wanted to overcome these hurdles and offer its mobile banking customers unprecedented account access and functionality.
The new Westpac One mobile banking platform helps users perform almost any banking transaction and access multiple accounts with its novel, single-view timeline feature. A cloud-based analytics solution powers fast, data-driven insights for customers and the bank without putting a heavy load on the bank’s other systems. Further, by putting its new, device-agnostic application development platform in the cloud, the bank can quickly and economically deploy new customer-focused features.
The solution reduces monthly operating costs by 60 percent, from NZD1 million to NZD400,000, by consolidating customer data in and processing queries through the analytics platform. The consolidated customer view also makes it possible for customers to receive decisions on mortgage, credit card or other loan applications within 60 seconds.
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