Westpac NZ has plan to replace its 1980s core banking system but isn't ready to bite the bullet yet

By Gareth Vaughan

Westpac NZ has the replacement of its core banking system in its sights, knows which system it wants to buy and roughly how much this will cost, but has no imminent plan to push ahead and replace the system, CEO Peter Clare says.

Clare told interest.co.nz a day would come when Westpac "bites the bullet" on upgrading its core banking system, which dates from the 1980s.

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