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Fifteen years after buying St George, Westpac is finally unifying its banking systems. ANZ investors will hope they’re not hearing about the Suncorp integration in 2039.
Westpac has launched an ambitious upgrade of its technology simplification program in a bid to improve customer outcomes and bring its cost-to-income ratio down to the level of its better performing big bank competitors.
Westpac is being taken to court after the corporate watchdog alleged it failed to respond to financial hardship notices.
ASIC is suing Westpac for neglecting more than 200 customer hardship requests over seven years, for which the bank blames "technology failure".
The corporate regulator has alleged that between 2015 and 2022 Westpac didn't respond to financial hardship notices from 229 customers.