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Westpac’s $3.5b tech catch-up is a warning to ANZ

Fifteen years after buying St George, Westpac is finally unifying its banking systems. ANZ investors won’t want to be hearing about the Suncorp integration in 2039. 

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Kudos to Westpac chief executive Peter King for finally biting the bullet and doing what his predecessors wouldn’t, or couldn’t, do.

More than 15 years after Westpac acquired St George, King has launched a four-year tech simplification that will finally bring Westpac, St George, Bank of Melbourne and BankSA customers onto the same tech platform.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
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    Original URL: https://www.afr.com/chanticleer/westpac-s-3-5b-tech-catch-up-is-a-warning-to-anz-20240327-p5ffnx