Heartland is a Westpac Branch .....or something like that
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Heartland is a Westpac Branch .....or something like that
$1.80 dividend reinvestment strike price, happy hound !
Westpac do this for a number of institutions. Take care of the inter-bank settlement processes, making sure 1 plus 1 equals 2, etc..
It will suit both parties -- Westpac will earn some processing fees and reuse their investment in systems. Heartland get access to robust systems without needing to invest heavily in IT.
Look at how much Kiwibank have spent (and written off) -- as a shareholder I don't want Heartland to pour cash down that hole!
Gartner classify 3 different types of IT system and recommend different strategies for each type. Some IT systems are "Systems of Record" -- essentially the same for every organisation -- think payroll, HR, accounting. Other systems are "Systems of Differentiation" -- that is where one organisation sets itself apart form the others. Heartland are rightly investing in those systems -- the online business loan approvals for example.
A good time to top up at the moment I would say ... just kicking myself that I topped up yesterday and didn't wait until today!