IBM Case Studies Westpac New Zealand Ltd. - Putting unprecedented banking power in customers’ hands transforms mobile banking

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	Westpac New Zealand Ltd. - Putting unprecedented banking power in customers’ hands transforms mobile banking IBM

Westpac New Zealand Ltd. - Putting unprecedented banking power in customers’ hands transforms mobile banking

IBM

Technology Category	Analytics & Modeling - Big Data Analytics Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation Sales & Marketing
Use Cases	Predictive Quality Analytics
Services	Cloud Planning, Design & Implementation Services Software Design & Engineering Services
Challenge	Westpac New Zealand Ltd. wanted to offer its mobile banking customers unprecedented account access and functionality. Customers wanted a consistent banking experience regardless of how they accessed their accounts, but most mobile banking apps offered limited features and required multiple logins to access different accounts. The bank wanted to overcome these hurdles and provide a seamless and comprehensive mobile banking experience. Read More
About Customer	Westpac New Zealand Ltd., based in Auckland, is a wholly owned subsidiary of Westpac Banking Corp., headquartered in Sydney, Australia. Westpac New Zealand is the second-largest bank in the country, with more than 1.5 million customers. In 2011, the bank commemorated 150 years of continuous service to New Zealand communities. The bank is committed to providing a seamless and comprehensive mobile banking experience to its customers. Read More
Solution	The bank introduced the new Westpac One mobile banking platform that helps users perform almost any banking transaction and access multiple accounts with its novel, single-view timeline feature. A cloud-based analytics solution powers fast, data-driven insights for customers and the bank without putting a heavy load on the bank’s other systems. Further, by putting its new, device-agnostic application development platform in the cloud, the bank can quickly and economically deploy new customer-focused features. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Big Data Analytics

Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Sales & Marketing

Use Cases

Predictive Quality Analytics

Services

Cloud Planning, Design & Implementation Services

Software Design & Engineering Services

Challenge

Westpac New Zealand Ltd. wanted to offer its mobile banking customers unprecedented account access and functionality. Customers wanted a consistent banking experience regardless of how they accessed their accounts, but most mobile banking apps offered limited features and required multiple logins to access different accounts. The bank wanted to overcome these hurdles and provide a seamless and comprehensive mobile banking experience.

About Customer

Westpac New Zealand Ltd., based in Auckland, is a wholly owned subsidiary of Westpac Banking Corp., headquartered in Sydney, Australia. Westpac New Zealand is the second-largest bank in the country, with more than 1.5 million customers. In 2011, the bank commemorated 150 years of continuous service to New Zealand communities. The bank is committed to providing a seamless and comprehensive mobile banking experience to its customers.

Solution

The bank introduced the new Westpac One mobile banking platform that helps users perform almost any banking transaction and access multiple accounts with its novel, single-view timeline feature. A cloud-based analytics solution powers fast, data-driven insights for customers and the bank without putting a heavy load on the bank’s other systems. Further, by putting its new, device-agnostic application development platform in the cloud, the bank can quickly and economically deploy new customer-focused features.

Impact #1	The solution reduces monthly operating costs by 60 percent, by consolidating customer data in and processing queries through the analytics platform.
Impact #2	The consolidated customer view also makes it possible for customers to receive decisions on mortgage, credit card or other loan applications within 60 seconds.
Impact #3	A state-of-the-art mobile application deployment platform lets the bank create an application and deploy it across all online and mobile platforms and operating systems, reducing development costs and time to market for new apps and features.

Impact #1

The solution reduces monthly operating costs by 60 percent, by consolidating customer data in and processing queries through the analytics platform.

Impact #2

The consolidated customer view also makes it possible for customers to receive decisions on mortgage, credit card or other loan applications within 60 seconds.

Impact #3

A state-of-the-art mobile application deployment platform lets the bank create an application and deploy it across all online and mobile platforms and operating systems, reducing development costs and time to market for new apps and features.

Benefit #1	Monthly operating costs reduced by 60 percent, from NZD1 million to NZD400,000.
Benefit #2	Decisions on mortgage, credit card or other loan applications delivered within 60 seconds.
Benefit #3	Significant reduction in development costs and time to market for new apps and features.

Benefit #1

Monthly operating costs reduced by 60 percent, from NZD1 million to NZD400,000.

Benefit #2

Decisions on mortgage, credit card or other loan applications delivered within 60 seconds.

Benefit #3

Significant reduction in development costs and time to market for new apps and features.

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Overview

Westpac New Zealand Ltd. - Putting unprecedented banking power in customers’ hands transforms mobile banking

Operational Impact

Quantitative Benefit