Westpac's brand reckoning
Westpac’s UNITE tech overhaul is Anthony Miller’s to own. As the bank streamlines, sub-brands like St George Bank and BankSA may not make the cut.
Westpac is reassessing the future of its major sub-brands — St. George Bank, Bank of Melbourne and BankSA — as new CEO Anthony Miller amps up the bank’s crucial tech transformation program.
The initiative, known as Project UNITE, is central to Westpac’s future. If it fails, the bank risks losing ground to more efficient competitors that have more money to spend on projects customers can see and respond to.
Budgeted at around 30-40% of Westpac's $2 billion investment spend until 2028, UNITE is already dominating management’s time. Some in the market believe it is off track and missing key targets.
Westpac sources dispute this, saying a key decision has been made with the selection of a single deposit processing system — a decision that has changed the project’s scope.
