Westpac

Westpac is Australia's oldest bank, operating for over 200 years as a full-service retail, business, and institutional bank. Over the last decade it has invested heavily in digital transformation — building out API-first payment products (PayWay, QuickStream), open banking infrastructure under Australia's Consumer Data Right framework, and real-time payments via NPP. Its embedded finance angle is primarily as a provider of banking infrastructure to Australian businesses (bank feeds, payment facilitation, invoice finance, super clearing) rather than as a buyer of third-party embedded finance components. The bank competes with non-bank fintechs (Stripe, Square, PayPal) in SMB payments and lending, and is building platform-like capabilities to retain business customers.