Westpac Appoints Banking As A Service CEO

Westpac today announced the appointment of Damien MacRae as Chief Executive Officer, Westpac Banking as a Service.

Damien is currently Managing Director, Westpac Pacific and Specialist Finance. He is an experienced banker with a passion for how technology can serve a new generation of banking customers. He was an early advocate for online and mobile banking in his previous senior executive roles in Westpac and has extensive experience with data and analytics as a former Chief Operating Officer, Asia Pacific for a global information services company.

Chief Executive Specialist Businesses, Jason Yetton, said Damien was an outstanding internal appointment as Banking as a Service enters an exciting new phase.

“Fintech innovation is changing banking in important ways and Banking as a Service is part of our long-term strategy to support this trend and better respond to changing customer needs, said Mr Yetton.

“Banking as a Service is a growth opportunity for the Group and a key priority this year is to increase our customer base and build out our product offering following agreements with our initial partners including Afterpay and SocietyOne”.

New Chief Executive Officer, Westpac Banking as a Service, Damien MacRae said he was looking forward to the new challenge.

“Banking is increasingly becoming embedded in platforms and apps and younger customers are migrating to new digital brands that are cost effective, fast and innovative. I’m excited at the opportunity to keep Westpac at the front of this trend.”