Westpac Ends Palantir Contract After Pressure
The Australian bank will not renew its deal with the US surveillance firm following campaigns from shareholders and activists.
Updated on Nov. 5, 2026 in Financial Services
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Westpac has decided not to renew its contract with Palantir, a US surveillance firm, as part of a broader technology simplification. The decision followed a campaign led by activist group GetUp and a shareholder resolution filed with SIX.
Why it matters
The move reflects growing scrutiny of how Australian banks source technology and handle customer data. It shows that petitions and shareholder action can shape supplier decisions across the financial services sector in Australia.
A petition calling for Westpac to cut ties with Palantir attracted 27,317 signatures, 173 of them from bank shareholders. The source does not disclose the value of the contract or the exact end date of the current agreement.
The players
Westpac
Westpac is one of Australia's major banks, headquartered in Sydney and among the country's largest lenders.
Palantir
Palantir is a US data analytics and surveillance company whose software is used by government and defence agencies.
GetUp
GetUp is an Australian activist organisation known for running online campaigns and petitions on social and political issues.
SIX
SIX is a shareholder advocacy group that filed a shareholder resolution with GetUp urging Westpac to review its Palantir contract.
The details
Westpac said it has commenced a program of work to reassess some of its suppliers and will review its responsible sourcing and human rights policies. GetUp demanded that Westpac disclose what the Palantir deal covers, end the contract, and exclude defence and intelligence contractors from Australian banking data infrastructure.
Timeline
Article published on Westpac ending its Palantir partnership, 5 November 2026.
Market Landscape
The episode follows a pattern in which activist groups and shareholder filings push Australian financial institutions to review their technology suppliers. It highlights how responsible sourcing and human rights concerns are becoming part of competitive positioning among banks.
Customers of Westpac are unlikely to see immediate changes to banking services from this decision. The shift matters mainly for how the bank handles data infrastructure and supplier oversight over time.
The takeaway
Shareholders and customers can influence how major banks choose technology partners. Watching a company's supplier disclosures and policy reviews is a practical way to follow such decisions.
What happens next
SIX and GetUp have said they will keep watching Westpac until its current Palantir contract ends.
Further reading
For more on the sector, see Financial Services coverage across Australian banking.
Source note: This article includes information reported by Cyberdaily.
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