Westpac Banking Corp 6-K, filed Oct 20, 2020

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

October20, 2020

CommissionFile Number 1-10167

WESTPAC BANKING CORPORATION

(Translation of registrant’s name into English)

275 KENT STREET, SYDNEY, NEW SOUTH WALES 2000, AUSTRALIA

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

Index to Exhibits

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Exhibit 1

ASX Release20 October 2020Westpac and Afterpay announce partnershipLevel 18, 275 Kent Street Sydney, NSW, 2000Westpac Group has today announced Afterpay as the first partner on its new digital banking platform.The new digital bank-as-a-service platform uses cloud-native technology from 10x Future Technologies and allows Westpac to work with leading companies to offer convenient and innovative banking services to Australians.Westpac CEO, Peter King, said: “Fintech innovation is changing banking in important ways and our new digital banking platform is part of our long-term strategy to support this trend and better respond to changing customer needs.“The platform allows us to combine our banking experience with the innovation of our partners to support new customer experiences.“We look forward to working with Afterpay to deliver new products and services,” Mr King said.The partnership will allow Afterpay to provide Westpac transaction and savings accounts and other cashflow management tools to its 3.3 million customers in Australia in Q2 2021.Afterpay CEO, Anthony Eisen, said: “We believe Australians deserve greater support and insight to help manage their money. Together with the power of our retail platform, the latest banking technology from 10x, and the support of Westpac, we will begin by offering cashflow management in a simple way.“Afterpay is in a unique position to extend and deepen the relationship with our customers and help them to manage their money more seamlessly through savings and budgeting tools. For Afterpay, this is clearly just the beginning as we explore this opportunity globally,” he said.Westpac’s General Manager, Corporate and Business Development, Macgregor Duncan, said: “We have built the platform to allow us to collaborate closely with our partners, and we are excited to work with Afterpay to pioneer services relevant to, and reflective of, its customer base and unique business model.”In November 2019, Westpac announced an investment in the digital banking platform as part of its full year results.

For further information:David Lording Andrew Bowden Group Head of Media Relations Head of Investor Relations 0419 683 411 0438 284 863This document has been authorised for release by Tim Hartin, General Manager & Company Secretary.

Exhibit 2

Afterpay Limited ASX: APTASX Announcement20 October 2020Afterpay to offer savings accounts and cash flow tools to customersAfterpay and Westpac have entered into a Collaboration Agreement to facilitate the introduction of Afterpay savings accounts and cash flow tools for customers in Australia.The new money management services, facilitated by Westpac’s new digital bank-as-a-service platform, will complement Afterpay’s existing business model by offering additional, customer-centric alternatives to traditional banking products.Available from FY21, the new offerings will replicate the simplicity and transparency of the existing Afterpay service and will empower customers to have greater control over their budget, with an efficient and seamless digital user experience.Afterpay customers will be able to use their new savings account to conduct the majority of their money management activities, including paying bills, withdrawing cash and budgeting. Further services and tools will be introduced over time to drive even more benefits to customers.Linking the new services to a user’s existing Afterpay account will deliver further insight into how customers prefer to manage their finances, what their savings goals are, and how responsible spending behaviour can be further encouraged and rewarded.These insights will also deliver a more tailored user experience and more mutually beneficial consumer and retailer connections via the Afterpay platform.The Westpac digital bank-as-a-service platform uses cloud-native technology from 10x Future Technologies. Being the default buy now pay later provider integrated with this global technology in Australia will assist Afterpay’s plans to roll out these platform enhancements across all regions.By leveraging the globally-scalable technology and associated banking and regulatory infrastructure, Afterpay can design, build and deliver additional services to customers without diverting from its unique and customer-centric business model, as well as retain ownership of its customer interaction and relationships.The collaboration also brings efficiency benefits to Afterpay’s existing activities from a risk management and processing cost perspective and has the potential to facilitate new revenue streams over time, without needing to develop traditional banking or credit products.Afterpay Limited |​ ACN 618 280 649​ |​ ASX:APT Level 5, 406 Collins Street, Melbourne VIC 3000, Australia |

+61 300 100 729

Afterpay CEO and Managing Director, Anthony Eisen, said:“The introduction of savings accounts and budgeting tools offers new customer benefits that continue to build on our core principle of encouraging responsible spending and enabling financial wellness.“In deepening our relationship with our customers we will gather greater insights into how they prefer to manage their finances and better understand their savings goals. This will allow us to assist them to budget more effectively and avoid debt traps.“We are excited to leverage the bank-as-a-service platform to provide customers with a different way to manage their finances, without relying on traditional banking services. We applaud Westpac’s foresight in curating this innovative digital platform and welcome their desire to partner with Afterpay to meet the changing needs of a powerful next generation of customers.”Westpac CEO, Peter King, said:“We are very pleased to be able to offer our digital bank-as-a-service platform to one of Australia’s most prolific fintech innovations, Afterpay. This collaboration reflects our strategy to meet the changing needs of customers and demonstrates our desire to partner with differentiated business models that provide alternative ways for consumers to spend and manage their finances.“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 further value to consumers.”Afterpay Executive Vice President, New Platforms, Lee Hatton said:“Broadening Afterpay’s ecosystem to include new money management tools and products allows us to leverage our insights to deliver innovative solutions that meet the needs of our customers, helping them to make better-informed financial decisions and further differentiating us from traditional credit products.“The collaboration accelerates Afterpay’s ability to bring these additional customer offerings to market in that we can leverage established banking infrastructure and regulatory foundations to develop and deliver new services and more positive outcomes for our customers.“The advanced core technology available around the world today means we are well placed to ultimately provide these services to our 10 million plus customers across our global footprint. It also means we can continue to drive faster innovation and deliver greater benefits to customers and retailers while staying true to our core values.”Authorised byAnthony Eisen CEO & Managing DirectorEndsAfterpay Limited |​ ACN 618 280 649​ |​ ASX:APT Level 5, 406 Collins Street, Melbourne VIC 3000, Australia | +61 300 100 729

For further information contactInvestors Company MediaMarie Festa EVP Investor Relations & Communications marie.festa@afterpay.com +61 405 494 705Amanda Street Company Secretary amanda.street@afterpay.comMelissa Patch Director of Communications melissa.patch@afterpay.com +61 412 124 195Afterpay Limited |​ ACN 618 280 649​ |​ ASX:APT Level 5, 406 Collins Street, Melbourne VIC 3000, Australia | +61 300 100 729