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Mortgage overhaul a low priority

11 October 2010 5:55PM
Westpac's plans for its multitude of mortgage processing centres appear mostly incremental at this stage.A "single integrated mortgage origination and servicing platform" was the last of the product projects listed by Westpac at the briefing.However, there was no talk at Friday's investor briefing of consolidating processing centres, to allow for the St George takeover, or of making use of what was once Westpac's solitary centre in Adelaide. HP (formerly EDS) is in the last year of its contract to operate this centre (and which Westpac first established in the mid 1990s). The centre's service standards  are inconsistent and  Westpac's relationship with HP appears to be strained.St George has only recently reduced the number of its processing centres for home loans to one in each state and may be ripe for further centralisation. Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4

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