Westpac Banking Corp Technology Market Update Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jonathan Mott - Barrenjoey Markets Pty Limited, Research Division - Analyst : Jonathan Mott from Barrenjoey. If you look at IT programs over time, I can't think of 1 bank that's ever delivered on time and on budget anywhere in the world. It's just what happens. So given -- this is quite a big project, the amount of time it's going to take. So in the event that cost do come in higher than you think, is it more likely that each year, the spend is going to be higher. So we end up with a blowout in any 1 year, i.e., you have to hire more people to do the work. Or is it just that if it blows out, it's going to take longer to complete. So do you blow up or out? Which way is the more likely way that you're going to?

Question: Jonathan Mott - Barrenjoey Markets Pty Limited, Research Division - Analyst : Jon Mott from Barrenjoey again. A question about the customer master files. It's all good to talk about the customer experience. But when you've got a customer who has multiple relationships with multiple brands and you don't even know it's the same person because they split across [multiple] things. How long is it going to take to merge, so you get to 1 single view of the customer? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 27, 2024 / 12:00AM, WBC.AX - Westpac Banking Corp Technology Market Update Because otherwise, a lot of this is sort of semantics, because from a customer's perspective, you're going to have multiple relationships and you won't even know it's the same person.

Question: Jonathan Mott - Barrenjoey Markets Pty Limited, Research Division - Analyst : So how many duplicate customers have you got it, because there must be a lot of people who've got different -- owned different...

Question: Jonathan Mott - Barrenjoey Markets Pty Limited, Research Division - Analyst : You have already 1 view. So there's no one duplicated on both systems or there's likely to be...