Westpac Banking Corp (ASX:WBC) Adding AI Chatbots For Customer Service

Westpac Banking Corp (ASX:WBC) Adding AI Chatbots For Customer Service

Westpac Banking Corp (ASX:WBC) Adding AI Chatbots For Customer Service

  • Westpac will be introducing chatbots to its workforce, to act as virtual customer service assistants and help customers with product questions and provide support for customers online.
  • The bots will also work internally alongside Westpac staff to assist with commonly asked questions so bankers have more time to focus on complex customer queries as opposed to admin related tasks.
  • A former senior executive at one of Australia’s big four banks is suing for unfair dismissal, after he was sacked by Westpac for “inappropriate behaviour”, lacking judgment and ineffective leadership.
  • Wesley William Hall is seeking $600,000 in compensation from Westpac, claiming he was fired after raising serious concerns about its wealth management arm BT.

Westpac Banking Corporation is a banking organization. The Company provides a range of banking and financial services in markets, including consumer, business and institutional banking and wealth management services. The Company is engaged in the provision of financial services, including lending, deposit taking, payments services, investment portfolio management and advice, superannuation and funds management, insurance services, leasing finance, general finance, interest rate risk management and foreign exchange services. The Company’s segments include Consumer Bank, Business Bank, BT Financial Group (BTFG), Westpac Institutional Bank (WIB) and Westpac New Zealand. The Company has branches throughout Australia, New Zealand, Asia and in the Pacific region. The Company through its division offers its services under various brands, such as Westpac, St.George, BankSA, Bank of Melbourne and RAMS brands.

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the downside.

By the way, prices are vulnerable to a correction towards 32.09.

The projected upper bound is: 30.59.

The projected lower bound is: 28.36.

The projected closing price is: 29.47.

WESTPAC FPO closed down -0.410 at 29.550. Volume was 30% above average (neutral) and Bollinger Bands were 51% wider than normal.

Open        High         Low         Close        Volume
29.750     29.830     29.510     29.550     8,277,223

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period      50-period     200-period
Close:                       30.27             33.17              32.06
Volatility:                18                   22                   20
Volume:                  9,975,542     7,144,395      5,943,780

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

WESTPAC FPO is currently 7.8% below its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of WBC.AX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on WBC.AX and have had this outlook for the last 23 periods. Our momentum oscillator is currently indicating that WBC.AX is currently in an oversold condition. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 26.9614. This is not an overbought or oversold reading. The last signal was a buy 7 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 25.39. This is where it usually bottoms. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 2 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -173.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 5 period(s) ago.


The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 2 period(s) ago.

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John Heffernan

John Heffernan is an Analyst at HEFFX. John is a BSc in Economics with Honors from the University of Buckingham, and is a contributor on equities at Live Trading News.

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