Westpac Banking Corporation · ASX:WBC
Westpac Banking — Corporate Update (March 2026)
35 slides from Westpac Banking's corporate update, Mar 26, 2026
Slide 1: ASX Release: UNITE Update
Westpac Banking Corporation Level 18, 275 Kent Street Sydney, NSW, 2000 ASX RELEASE 26 March 2026 UNITE Update Westpac Banking Corporation (“Westpac”) today provides the attached update. For further information: Hayden Cooper Justin McCarthy Group Head of Media Relations General Manager, Investor Re
Slide 2: UNITE Update Westpac March 2026
UNITE UPDATE WESTPAC 26 MARCH 2026 1 Westpac Banking Corporation ABN 33 007 457 141 IMPORTANT: This presentation contains a number of ‘forward looking statements’ which are subject to assumptions, risks and other important information set out in the disclaimer at the back of this presentation.
Slide 3: Anthony Miller, Chief Executive Officer
ANTHONY MILLER Chief Executive Officer 2 Westpac Update March 2026
Slide 4: UNITE Objectives: One Best Way
UNITE OBJECTIVES: ONE BEST WAY 3 Westpac Update March 2026 1 Consumer and Business & Wealth products. CONSOLIDATE TECHNOLOGY • Customers experience the best Westpac technology • Significant productivity: Run and change cost reduced • >180 applications decommissioned FEWER PRODUCTS • Easy for custome
Slide 5: AI Impact Assessments and Execution Focus
4 Westpac Update March 2026 AI IMPACT ASSESSMENTS • Improving how data lineage and downstream impacts are determined • Impact assessments are a key dependency for the majority of UNITE initiatives • Improvement in impact assessment efficiency: ~10 days to less than 4 days AI TESTING TOOLS AND ASSIST
Slide 6: Execution Progress – Improving Customer and Employee Experience
EXECUTION PROGRESS – IMPROVING CUSTOMER AND EMPLOYEE EXPERIENCE 5 Westpac Update March 2026 DIGITAL BANKER Platform rolled out to all bankers ONE CHAT PLATFORM Consolidated 2 platforms to 1 Consolidated 22 processes to 1 DIGITAL ID VERIFICATION ONE PRIVATE BANK Enhanced customer experience & service
Slide 7: One Wealth Platform: BT Panorama
ONE WEALTH PLATFORM: BT PANORAMA 6 Westpac Update March 2026 1 Awards for BT Panorama – 2025 `Best Client Portal & Mobile Platform’ and 2024 `Best Platform' in the Australian Wealth Management Awards, in the Investment Trends Platform Competitive Analysis and Benchmarking Report, 2024 winner of the
Slide 8: One Commercial Bank
ONE COMMERCIAL BANK 7 Westpac Update March 2026 1 For 95% of customer accounts. Directly transferring customers to like for like products without the need for re identification or additional product application forms. • Leading digital and payments capability to all commercial customers • Broader ra
Slide 9: Peter Herbert, Chief Transformation Officer
PETER HERBERT Chief Transformation Officer 8 Westpac Update March 2026
Slide 10: Delivery Approach
DELIVERY APPROACH 9 Westpac Update March 2026 Business led, technology enabled • Centralised UNITE delivery team focused on execution • Technology and the Data, Digital and AI teams support delivery • Divisional Group Executives accountable for customer, financial and risk outcomes • Board oversees
Slide 11: Program Update
Preparation to support customer migrations: • Channel simplification • Data simplification • AI: faster downstream data impact assessments and improved testing tools 10 Westpac Update March 2026 Initiative status1 147 660 850 - 950 FY24 FY25 FY26 UNITE Investment spend ($m) 38 7 1 PROGRAM UPDATE 1 E
Slide 12: Monitoring Progress
MONITORING PROGRESS 11 Westpac Update March 2026 Percentage complete by project stage 1 Percentage of program scope confirmed. 2 Measurement of Simplify and Implement progress revised to percentage of milestones completed. Prior period progress has been restated to align with current period presenta
Slide 13: Migrations to Support Decommission of Commercial Hogan
MIGRATIONS TO SUPPORT DECOMMISSION OF COMMERCIAL HOGAN 12 Westpac Update March 2026 DECOMMISSION COMMERCIAL HOGAN CORE LEDGER UNITE MIGRATIONS CORE LEDGER: COMMERCIAL HOGAN Expected Outcomes: • Upgrade costs avoided: ~$400m • Reduced operational complexity Completed in Mar-26 WESTPAC CORE LEDGER: TR
Slide 14: Key 2H26 Milestones
KEY 2H26 MILESTONES 13 1 This includes 3 initiatives. One initiative was descoped in 2H25. 2 This includes 2 initiatives. Westpac Update March 2026 MORTGAGE SIMPLIFICATION1 • Transfer Westpac mortgage property security data to the target state master • Enable SMSF product on the Westpac mortgage led
Slide 15: One Wealth Platform
ONE WEALTH PLATFORM
Slide 16: BT Panorama
(49) 14 1Q22 1Q26 Up 63pts 22,883 29,952 Dec-24 Dec-25 Up 31% BT PANORAMA 15 Westpac Update March 2026 FUA ($m) Net flows excluding benefit payments2 ($m) Managed accounts FUA ($m) Net Promoter Score (NPS)6 1 Investment Trends Platform Competitive Analysis & Benchmarking Report (released Feb’ 26). B
Slide 17: Asgard to Panorama Migration Timeline
FY24 Commenced adviser-led customer transitions from Asgard to Panorama Transferred > 3,000 accounts / $2bn in FUA Retention, MBFI1 FY25 Asgard soft-close Cease opening of new Asgard accounts Data stability and quality, MBFI IDPS2-Like Product Termination Returned $365m to 3,800 Investors Simplified
Slide 18: Migration Learnings
MIGRATION LEARNINGS 17 Westpac Update March 2026 • Clear, regular adviser and customer communications helped build understanding and confidence through the migration • Tight coordination across internal teams and third-parties, surfaced issues early and kept priorities aligned • Early focus on data
Slide 19: What's Next for BT Panorama
WHAT’S NEXT FOR BT PANORAMA 18 Westpac Update March 2026 Continuing to invest to support advisers and customers Leveraging Westpac ownership to differentiate and scale Stronger, more secure integration across the advice ecosystem Launching an innovative retirement income stream with Challenger STRAT
Slide 20: One Commercial Bank
ONE COMMERCIAL BANK
Slide 21: Expected Outcome: Better Customer Experience
EXPECTED OUTCOME: BETTER CUSTOMER EXPERIENCE 20 Westpac Update March 2026 LEADING DIGITAL AND PAYMENTS CAPABILITY • Dynamic Virtual Credit Card and Card Management Platform • Additional savings account option - Notice Saver Account • Wider range of online receivables, payables and reconciliation opt
Slide 22: Transition Stages
PRE-MIGRATION POST MIGRATION SUPPORT MIGRATION Customer engagement 1 Work with customers to agree tailored transition plan Customer and product migration 4 New customer products created in the target system Customer training and support provided Migration completion 5 Transition success Close legacy
Slide 23: Migrating Data Safely
MIGRATING DATA SAFELY MIGRATION SUPPORT & TOOLS MIGRATION ENABLERS 22 Westpac Update March 2026 SEAMLESS EXPERIENCE • Specialist Migration Experience Team providing support for customers and bankers • Automated workflow tool to orchestrate, track and sequence end to end migration • Digital Banker Mi
Slide 24: Opportunity to Deepen Relationships
89 23 23 8 93 34 35 34 Transaction banking Payment solutions Equipment finance Interest rate / FX OPPORTUNITY TO DEEPEN RELATIONSHIPS1 23 Westpac Update March 2026 1 Includes products outside of Business & Wealth held by Commercial customers. Information was current as at Sep-25, except for the Inte
Slide 25: UNITE Delivery
UNITE DELIVERY
Slide 26: Robust Structure/Framework
ROBUST STRUCTURE/FRAMEWORK 25 INTERNAL RESOURCES Centralised delivery team of ~1,800 employees UNITE RESOURCING CAPACITY Leverage internal capability while allowing flexibility EXTERNAL PARTNERS Supplement inhouse expertise ARTIFICIAL INTELLIGENCE Testing tools Data impact assessments Directors over
Slide 27: Migration Delivery
10 Migration Delivery DELIVERY SEQUENCE DELIVERY APPROACH • Migration strategy and design • Customer and banker journeys • Product harmonisation • Migration testing • Migration readiness • Migration execution • Decommissioning • Feature and capability readiness • Increase infrastructure capacity • D
Slide 28: Mortgages Simplification Target State
MORTGAGES SIMPLIFICATION TARGET STATE 27 Westpac Update March 2026 1 Available for sale products, excluding RAMs • Best of Westpac for new and existing customers • Access to market leading products and features • Faster, more consistent service to customers • Simpler, standardised processes • Initia
Slide 29: Mortgages Work Package Timeline
MORTGAGES WORK PACKAGE 28 Westpac Update March 2026 TIMELINE 2025 2026 DISCOVERY SIMPLIFY KEY ACTIVITIES • Harmonise and simplify products • Simplify collateral management • Ready data for migration • Increase capacity of target systems CENTRALISED TEAM • Product team • Technology • Bankers • Financ
Slide 30: Mortgages Sequencing of Delivery
MORTGAGES SEQUENCING OF DELIVERY SIMPLIFY IMPLEMENT & DECOMMISSION SIMPLIFY COLLATERAL MGMT SIMPLFY PRODUCTS TARGET SYSTEM CAPACITY Product harmonisation Feb-26 Multi-offsets Mar-25 Seniors Access Loan Product build1 Nov-25 Company & Trust Product build SMSF Product Build1 Portfolio Loan Product Bui
Slide 31: Operating Model in Action – Mortgages Work Package
OPERATING MODEL IN ACTION – MORTGAGES WORK PACKAGE 30 Westpac Update March 2026 STREAMLINED GOVERNANCE SIMPLIFIED EXECUTION FINANCIAL SUPPORT BUSINESS LED ONE UNITE TEAM
Slide 32: Appendix
APPENDIX
Slide 33: UNITE: Current Focus Areas
DIRECT BENEFITS4 (Mar-26) UNITE: CURRENT FOCUS AREAS 32 1 This includes 3 initiatives. One initiative was descoped in 2H25. 2 This includes 2 initiatives. 3 Estimated total initiative cost. 4 Expected full year annual benefit after the initiative is complete. COST3 (Mar-26) EXPECTED OUTCOMES KEY MIL
Slide 34: Change in Monitoring Progress Approach
CHANGE IN MONITORING PROGRESS APPROACH 33 Westpac Update March 2026 Percentage complete by project stage SIMPLIFY 17% IMPLEMENT 15% Mar-25 Sep-25 10% 7% 29% 13% Mar-25 Sep-25 14% 4% Based on initiatives completed, previous approach Based on milestones completed, revised approach
Slide 35: Disclaimer
The material contained in this presentation is intended to be general background information on Westpac Banking Corporation (Westpac) and its activities. The information is supplied in summary form and is therefore not necessarily complete. It is not intended that it be relied upon as advice to inve