Westpac will use AWS’ machine learning, compute, and data analytics capabilities. Photo by Sunrise King on Unsplash.

Australian banking group Westpac has turned to Amazon Web Services (AWS) to support its hybrid cloud strategy. 

Under the new five-year agreement, Westpac will leverage AWS’ machine learning, computing, and data analytics capabilities. 

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The partnership is anticipated to speed up the lender’s digital transformation, reduce costs, and customise its banking applications.

According to Westpac Group chief technology officer David Walker, the collaboration marks a crucial step in the bank’s journey towards technological transformation and will give its engineers additional options and freedom to offer cloud-based solutions.

“This collaboration will help us continue growing the use of cloud across the business so we can deliver new and enhanced digital-first experiences for our customers and employees, particularly through advanced technologies like Conversational AI, Banking-as-a-Service, and our new transaction platform for institutional customers,” said Walker.

In addition, Westpac staff members will have access to approved AWS training programmes under the new agreement.

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Westpac first started working with AWS in 2015.

AWS Australia and New Zealand managing director Rianne van Veldhuizen said: “AWS continually invests in secure and resilient cloud infrastructure and a depth of services that banks need to differentiate themselves to solve customer challenges of tomorrow.

“We are proud to expand our long-term collaboration over the next five years to help Westpac develop innovative cloud-first solutions. Building on AWS will enable Westpac to meet rapidly changing customer behaviours and drive business growth, while equipping employees with skills needed to drive Australia’s digital future.”

Earlier this month, Westpac launched a new credit card feature, called PartPay, which allows customers to split their payments into four instalments.