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Westpac has signed on as part of the inaugural enterprise partner group for the Buy Australian AI Partnership, a new initiative aimed at connecting homegrown AI startups with financial services organisations.
The partnership, delivered by Stone & Chalk with the National AI Centre as Principal Sponsor, is designed to accelerate the development and adoption of locally built technology solutions across the financial services sector.
Under the program, organisations spanning banking, insurance and superannuation will be brought together with Australian AI startups, with the goal of addressing business challenges and creating clearer pathways to commercial adoption.
How the partnership will work
As part of the enterprise partner group, Westpac will work alongside other organisations to provide insights into industry challenges and help create opportunities for AI businesses to demonstrate their capabilities and scale.
The bank will also contribute to the broader goal of supporting Australian innovation by offering local AI companies access to real-world business problems within the financial services sector.
Westpac’s Chief AI Officer, Dan Jermyn, pointed to the opportunity for Australia to strengthen its position as a developer and adopter of AI technology.
“AI is one of the most significant technology shifts of our time and has the potential to drive productivity, improve businesses performance and contribute to economic growth across Australia,” Jermyn explained.
He added that the initiative could play an important role in helping local AI companies build momentum.
“We’re proud to support an initiative that will help Australian AI companies demonstrate their capabilities, build commercial momentum and scale their businesses,” he continued.
Jermyn also highlighted the broader economic benefits that could flow from backing local innovators.
“If we can help more Australian innovators turn great ideas into successful businesses, that’s good for the economy, good for our customers and good for Australia’s prosperity.”
A collaborative model for AI growth
The Buy Australian AI Partnership represents a collaborative approach between large enterprises and the startup sector.
Financial services organisations involved in the program will provide both market insight and potential adoption pathways for emerging AI companies, giving startups the chance to engage directly with enterprise customers and gain exposure to the specific challenges and requirements of the industry.
Stone & Chalk, as the delivery partner, will facilitate connections between startups and enterprises. The National AI Centre’s role as Principal Sponsor provides institutional support for the effort.
Westpac’s broader AI strategy
The move to back the Buy Australian AI Partnership aligns with Westpac’s wider AI strategy, which combines new technology, strategic partnerships and investment in people and their skills.
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The bank has outlined a focus on using AI to solve customer problems faster, simplify internal processes and build capability for the future.
By joining the partnership’s inaugural enterprise group, Westpac is positioning itself as an active participant in the development of Australia’s AI ecosystem, working to ensure that local startups have a viable route to commercial deployment within financial services.
For the local AI sector, the partnership offers a structured channel through which startups can move from proof-of-concept to production within one of the country’s largest industries.
Last Updated on August 27, 2026 by Nick Ross
