Westpac will spend more in new IT over the next 5 years than it has over the last 10, according to a new filing with the ASX.

CEO Peter King has revealed details of the bank's IT roadmap, including big changes across customer and employee experience systems, customer onboarding, and platforms in a filing with the ASX this morning. King flagged the update earlier this year in a call with investors.

Under the banner of Unite: Accelerating simplification, King provided more details about the bank plans of shaving 180 systems down to just 60.

The biggest area of consolidation is in platforms which will drop from 60 to 20 with the most ambitious change coming in customer onboarding which will consolidate down from 11 individual platforms to just one.

According to the update, as part of the onboarding consolidation, Westpac will deliver a seamless verification experience for retail customers and a safer and faster digital process.

The Customer and employee experience systems will be halved from 10 to 5 while product and services systems which include product originations and product processes will be slashed from 60 to 30.

The changes won't come cheap, with the bank flagging $3.8 billion in tech investment between 2024 and 2028 when it expects most of the work to be complete. To give an idea of the scale of investment $3.8b in 5 years compares to $3bn over the previous decade.

- Andrew Birmingham