One of Australia’s megabanks Bankwest has announced they will be going completely cashless later this year, and fully transform into a digital ecosphere for their customers, which could therefore cause other major banks in the country to follow suit.
Bankwest, a subsidiary of Commonwealth Bank, which is among the major players in Australia, were already making great shifts to accommodate a cashless society; and earlier this month the bank announced they would closing the remainder of their branches and focusing strictly on the digital landscape.
According to a press release published on March 6th, Bankwest said they will “transition to a digital bank in 2024, enabling it to accelerate investment in delivering simple and easy digital banking and broker services to meet the needs of more homeowners across Australia.”
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