Westpac has partnered with Accenture to create advanced AI agents—referred to as agentic AI—that do more than just relay information like traditional chatbots. These agents mimic human decision-making and can execute tasks autonomously. For instance, Westpac has already deployed an AI agent that reduced a software migration task from six days to just one hour, showcasing significant efficiency gains.
According to Pieter Vorster, Westpac’s general manager for data platforms, the bank is exploring multiple applications for these agents across products, customer service, fraud prevention, and more. This development positions Westpac at the forefront of a rapidly evolving trend within financial services, as banks increasingly leverage agentic AI to streamline workflows, automate compliance checks, and even handle customer interactions.
Accenture highlights that such AI-powered agents are not only boosting productivity—by an estimated 20 to 30 percent—but are also transforming how banks operate, turning these agents into “quasi employees” that work alongside human teams. This innovation is part of a broader industry shift, with other major banks like Commonwealth Bank also investing in similar AI capabilities.
