Westpac chooses Fiserv for online transformation

Fiserv and Corillian Online will drive online transformation program at top-tier bank

Top-tier Australian bank Westpac has chosen Fiserv’s online individual, business banking and corporate services for it’s online transformation program, where the bank aims to update the online services currently available to its customers.

"The Westpac Group intends to provide online banking services that are as unique as our customers," said the bank's group executive of technology Bob McKinnon in a statement distributed by Fiserv.

"Today we serve more than two million active online customers and expect this channel to continue to grow. To meet these needs across all customers, we have found a visionary yet proven financial application partner with the best-in-class platform. Fiserv will be a strategic partner as we lay the foundation for the future needs of our multi-branded online banking solution."

The partnership - through Corillian Online - will produce improved online services to Westpac customers. Features will include language settings, customisable interface, support for mobile platforms and personal financial management tools.

Westpac and Firsev have a history that dates back to 1990 when the bank had chosen the software firm’s banking solutions - the Micorsoft software based Corilllian Online and Voyager - as a tool to serve individual customers, small to medium businesses and corporations.

"Fiserv has provided a broad range of solutions to The Westpac Group for nearly 20 years including account processing, fraud solutions and cheque processing. We are looking forward to partnering with them in their Online Transformation Program," said Nick Wilde, Asia Pacific managing director, Fiserv. "We provide financial institutions access to best-of-breed solutions which keep pace with increasingly sophisticated customer expectations."

In order to support and nurture the online services push the firm has plans to found a “Centre of Excellence” based in Sydney that will employee developers and senior strategists.

Westpac announced in May this year that it had hired 304 technical staff in the year ending 31 March 2010. The banking corporation has acknowledged in the past that its technological platform used by the bank is flakey -- chief executive Gail Kelly had referred to it as “unreliable, fragmented and underinvested.”

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