World News – AU – Afterpay (ASX: APT) and Westpac (ASX: WBC) join forces on consumer savings account – The Market Herald


Shares bought now, pay later Giant Afterpay (APT) hit triple digits today after the company revealed it is teaming up with mainstream Westpac (WBC) banking

The two ASX 200 lists will work together to create a new consumer savings account, which will allow Afterpay customers to control their budget and manage their spending

New money management service will help Afterpay users access an efficient and seamless digital user experience using Westpac’s new digital banking platform as a service

Customers can use their new savings accounts to manage spending, pay bills, withdraw money and plan their budget Plus more tools will be introduced over time

Combining this new service with Afterpay accounts will provide additional insight into how customers manage their finances and what their savings goals are

Westpac CEO Peter King is pleased to offer his platform to one of Australia’s « most prolific fintech innovations »

« This collaboration reflects our strategy to meet changing customer needs and demonstrates our desire to partner with differentiated business models that provide consumers with alternative ways to spend and manage their finances, » he said

« We look forward to launching our platform in Q2 with Afterpay and will continue to work together to identify ways in which our partnership can add value to consumers, » he added.

Afterpay CEO and Managing Director Anthony Eisen is excited to leverage Westpac’s platform to give customers a different way to manage their finances

« As we deepen our relationships with our clients, we will gather more detailed information on how they prefer to manage their finances and better understand their savings goals. This will allow us to help them budget more effectively and avoid debt traps, ”he told the market

« We applaud Westpac’s foresight in managing this innovative digital platform and welcome their desire to partner with Afterpay to meet the changing needs of a powerful new generation of customers, » he said. added

In the market this afternoon, Afterpay is up 571 percent and is trading at $ 10311 per share, while Westpac is down 053 percent, at $ 1868 each at 12:44 p.m. AEDT

Afterpay ASX

World News – AU – Afterpay (ASX: APT) and Westpac (ASX: WBC) join forces for consumer savings account – The Market Herald


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