Westpac Group is recognized as a pioneer in championing women in Australia. The bank recognized early on that creating an inclusive workplace where women can thrive would allow them to unlock the full value of the female economy. This Case Study explores their journey to reaching 50 percent female leadership, and identifies the main steps to take to achieve gender parity and highlights key lessons learned.
In our third Ask the Expert session, Rachael McKenzie of Westpac in Australia answers member questions about building a life-moments strategy to serve the female economy.
This InBrief report explores the life-moments strategy to segmenting and serving the Women’s Market, starting with mapping 10 of the most important moments in the lives of women. It highlights the experiences of four members of the Financial Alliance for Women in developing solutions that solve for specific life moments, their key recommendations and lessons learned.
Kate Holloway presented an overview of Westpac’s Life Moments strategy during a panel at the 2018 GBA Summit.
This GBA InBrief explores the key benefits and challenges of implementing comprehensive gender D&I strategies, particularly as they relate to FSPs’ approaches to capturing the Women’s Market. It explores the experiences of GBA members in their journeys to become both an employer and a bank of choice for women, and provides key recommendations for FSPs seeking to embark on similar journeys.
Felicity Duffy presented Westpac’s approach to its Women’s Markets program, giving GBA Summit participants a window into a long-term strategy for becoming the bank of choice and employer of choice for women.
This presentation from Rachael McKenzie gave Women’s Market Master Class participants insight into a successful long-term strategy for serving women customers well.
The net promoter score (NPS) used by Westpac measures customer advocacy, defined as the willingness of customers to recommend the bank to family, friends and colleagues.
This video was shown in bank branches to describe Westpac’s Women’s Market Division, including its rationale, activities and results. It stresses the value-driven nature of relationship banking with women (trust, loyalty) and includes customer testimonials.
Julie Rynski shared this presentation highlighting Westpac’s Inclusion & Diversity journey at the 2016 GBA Summit.
Julie presented Westpac’s approach to its Women’s Markets program at the 2016 GBA Summit, giving participants a window into a long-term strategy for becoming the bank of choice for women.
Assuming that gender differences that exist in the world outside the bank disappear when people walk through the door has resulted in high levels of dissatisfaction from one of the world’s most powerful economic forces: women. This report reveals the implicit problems with gender- neutral banking, as a follow-up to 2014’s “How Banks Can Profit from the Multi-Trillion Dollar Female Economy.” (Version en español)
Women in Australia are outliving men, yet have less money saved for retirement. This video from Westpac explores.
This video from Westpac Banking Corporation introduces the company’s new Live Online Lending Application (LOLA).
The 2015 Australian Financial Review and Westpac 100 Women of Influence Awards culminated in a gala event on Thursday 15 October at Sydney’s Town Hall. The purpose of the awards is to uncover, promote and celebrate women across Australia who are creating positive change.
This Case Study on Westpac by Chief Executive Women looks at the bank’s history of promoting women in the workplace and how it became the first of Australia’s largest companies to appoint a woman as CEO.
This Case Study by Diversity Council Australia explores Westpac’s Diversity and Inclusion strategy and the successes the bank has had in advancing its diversity agenda.
This presentation on Westpac’s mass marketing strategy was developed by the Westpac team for its 2015 Study Tour.
This presentation on the Net Promoter Score and how it’s impacted by customer experience in a bank was developed by Westpac for their 2015 Study Tour.
This presentation on Westpac’s approach to SMEs and Women’s Markets was developed for its 2015 Study Tour.
This presentation on Westpac’s sustainability perspective and approach was developed for Westpac’s 2015 Study Tour.
This presentation on the Women’s Market public relations strategy, featuring case studies of various profiling opportunities and other media outcomes, was developed for Westpac’s 2013 Study Tour.
This presentation on market research, including Westpac’s market research efforts, research insights and customer advocacy measures, was developed for Westpac’s 2013 Study Tour.
This presentation on Ruby’s social media and online efforts, including its online community, newsletter and other targeted activities, was developed for Westpac’s 2013 Study Tour.
This presentation on the development of the Ruby brand and its mainstreaming within Westpac was developed for Westpac’s 2013 Study Tour.
This presentation on Westpac’s BankNow, an innovative branch design complemented by technology and a new way of banking, was developed for Westpac’s 2013 Study Tour.
This presentation on Westpac’s employee advocacy efforts, including building a culture of advocacy, earning employees’ business, and helping employees connect the Westpac brand to their families, was developed for a 2015 Study Tour.
This presentation was developed for the 2013 Study Tour on Westpac’s diversity and inclusion efforts and approach.
This presentation was developed for Westpac’s 2015 Study Tour and discusses Westpac’s Distribution network.
This presentation on the Davidson Institute was developed for Westpac’s 2015 Study Tour and discusses the Institute and Westpac’s approach to financial education.
This report offers proprietary research commissioned by Westpac of 1,500 individuals on techonology, workplace issues and opinions about the future.
Westpac regularly commissions proprietary research into its actual and prospective customer base to determine addressable market and their financial knowledge, skills, and behaviors. The bank’s PR group then works to place media stories about the research findings and calculates the value of those placements based on the readership of each outlet, among other factors. This report calculates the estimated added value to Westpac of the 40 press hits about its Women’s Market Research study at more than $585K.
Westpac regularly commissions proprietary research into its actual and prospective customer base to determine addressable market and their financial knowledge, skills, and behaviors. The bank’s PR group then works to place media stories about the research findings and calculates the value of those placements based on the readership of each outlet, among other factors. This report calculates the estimated added value to Westpac of the 19 press hits about the insurance research study at more than $460K.
This presentation from Westpac meant for internal use describes the bank’s commitment to workforce diversity and its family- and woman-friendly policies, including women’s leadership development.
This proprietary research commissioned by Westpac examines women’s savings (for “super,” or retirement, and in general) and their likelihood to carry sufficient insurance. It found that women are excellent savers and that those in marriages/relationships tend to share both responsibility and decision-making power in an equitable manner. It also found that Australian households were heavily affected by the Global Financial Crisis, with key addressable concerns being insurance and retirement savings.
This proprietary research commissioned by Westpac analyzes women’s financial profiles and categorizes them into psychographic segments: “Taking Charge” “Silent Operator” “Blinded by the Light” “Passing Control” and “Cross the Fingers.” It suggests engagement strategies for financial services providers with each segment.
This internal Westpac document breaks down rates of share-of-wallet for women customers vs men, rates of growth by segment, average value of customer, gender-disaggregated data by product type, community outreach and marketing information about the Women’s Market Division, and general information about the Women’s Market Division and its place within the bank.
Proprietary research commissioned by Westpac examines interest in, and actual ownership of, small and medium enterprises among women, broken down by different age groups and other segments. Among notable findings: Women business owners are very happy with the choices they have made; only half of women who expressed an interest in starting their own business had an actual concrete plan to do so; one in three women felt women tend to help each other more than men do; and one in ten prefers to deal only with other women.
Proprietary research commissioned by Westpac breaks down the Women’s Market into Baby Boomers, Generation X and Generation Y to look at rates of saving, income levels, financial skills, attitudes, and behaviors, career aspirations, rates of home ownership, and a host of other demographic information. The report offers a wealth of data, with information about implications for financial services providers.
Westpac, un pionero internacional en la provisión de servicios bancarios para la emergente economía de las mujeres, ha reconocido el potencial de las mujeres en Australia durante los últimos 15 años. (English version)
This case study, the first in the GBA’s series, focuses on founding bank Westpac, which has long focused on the female economy as a critical pathway to long-term success. (Version en español)
This press release features key findings from research conducted by Westpac on unconscious bias among professionals in Australia.
This brochure describing Westpac’s commitment to workforce diversity and women’s leadership includes an extensive discussion of the company’s diversity value proposition and of Westpac’s leadership development programs.
