The Westpac Group has extended its contracts with both Telstra and Optus, re-signing the companies as its telecommunications providers for an additional five years, with the option to extend for a further two years.
The value of the contracts was not disclosed.
Key to the Telstra deal is the migration of St George Bank – which became a Westpac subsidiary in 2008 – onto Telstra’s fibre network, with 300 corporate and brand communications networks to be transitioned.
Building on Westpac’s existing partnership with Telstra, the revised agreement now spans data network for Westpac and St George, primary Internet access, outbound voice, and all Pacific Bank telecommunications requirements.
It includes solutions management across network connectivity, digital media solutions, Wi-Fi, audio conferencing, added datacentre connectivity, SMS and fax integration into the banking platform, and payments.
Telstra did not reveal whether or not this contract will be extended to Westpac’s other subsidiaries, BankSA, BT Financial Group, RAMS, and Bank of Melbourne, in the future.
Optus on the other hand has been reappointed to provide Westpac Group's mobile services, international networks, and the bank's contact centre infrastructure.
"We will continue to have relationships with both providers," a Westpac Group spokesperson told ARN. "Rather than the current brand-based allocation of services, we will have an integrated approach to telecommunications services. This will help deliver consistency across the Group."
Optus has been contacted for further comment.