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Westpac launches $253m banking operations revamp program

Australia based Westpac Bank has launched a A$240m ($253m) banking transformation program ‘Bank Now’, to offer better banking experience to its customers and support its expansion in the country.

Under the overhaul program, the lender will introduce new banking technologies and infrastructure across its 680 retail and business banking branches.

The bank is set to renovate one third of its existing branches over the next three years in the Bank Now format, while new openings will automatically adopt the same style.

Westpac retail and business banking group executive Jason Yetton said the introduction of the new bank branches is a direct response to the way customers were driving technological changes in the banking industry.

The bank is planning to replace traditional screens and counters separating customers from staff, with an open plan lay-out combining a mix of self-service banking options, tailored advice and support from specialist banking staff.

It will also introduce a 24X7 self-service banking system, equipped with ‘smart’ ATMs that accept deposits through cash, coins and cheques, apart from offering cash withdrawals and exchanges of notes with coins.

Additionally, dedicated digital touch screens will be installed at branches to enable customers receive information of products and services offered by the bank.