Westpac, Australia’s first bank, set out to modernize how it served customers and partners by embracing digital‑native technologies and exploring new business models. The goal was simple: build something entirely new that would unlock innovation beyond the limits of legacy systems.
Launching a Modern BaaS Platform at Speed
Working with 10x Banking and Amazon Web Services (AWS), Westpac launched a fully modern Banking as a Service platform in just 18 months.
The platform enabled Westpac to offer digital banking products through a network of partners, who used their own brands and customer insight to deliver hyper‑personalized experiences. Financial services could now be delivered directly where customers already were.
Powered by 10x’s cloud‑native core banking platform and a configurable microservices architecture, the platform brought real‑time connectivity, rapid product deployment, and the agility to respond instantly to market and customer needs.
Building a future‑ready model
The 10x Banking platform allowed Westpac to establish a new, customer‑first business model and expand into new markets. Leveraging open banking, API‑driven design, and a highly scalable architecture, the bank could quickly onboard market‑specific partners and launch white‑labelled financial products.
A joint delivery team across Australia and the UK brought the platform to life, ensuring rapid build, seamless integration using 10x's API-first and ecosystem‑ready foundation.
Unlocking high‑velocity partnerships
Once live, the BaaS platform enabled Westpac to secure new partnerships, including:
With each partner bringing innovation and deep customer understanding, Westpac reached new segments, reduced acquisition costs, and unlocked a scalable, multi‑tenant model that reshaped cost‑to‑serve and operational efficiency. The platform later attracted industry recognition, reflecting Westpac’s clear vision and the strength of its partnership with 10x.
