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Westpac plots $3b technology overhaul to slash long-term costs

The bank’s new chief executive, Anthony Miller, outlined plans to shrink the number of systems to cut expenses described by analysts as unsustainable.

James Eyers

Westpac chief executive Anthony Miller says an ambitious project to radically reduce the number of technology systems the bank operates will cost around $3 billion over four years but eventually slash costs.

In his first appearance before analysts and investors since taking over as chief executive in December, Miller set down his expectations for a major simplification program – known as Unite – that will define his tenure leading the country’s second-largest mortgage lender.

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James Eyers writes on banking, finance, payments, regulation and emerging technologies. Based in Sydney, he is a former legal and investment banking editor at the AFR and has been a business journalist for more than 20 years. Email James at jeyers@afr.com.au

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    Original URL: https://www.afr.com/companies/financial-services/westpac-plots-3b-technology-overhaul-to-slash-long-term-costs-20250323-p5llsu