CommBank to launch multiple technology firsts for simpler more convenient banking
(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 29 November 2012
Release date- 28112012 - Commonwealth Bank today revealed a number of firsts for Australian and Global Banking, launching in 2013.
First banking services in Facebook, offering Australia's 12 million Facebook users a simple and convenient way to pay and save;
New version of CommBank Kaching - Australia's #1 digital wallet - designed specifically for Android;
New sharing and tagging capability in NetBank - Australia's #1 Online Bank;
The world's most advanced merchant terminals...
New SmartSign technology that will allow Asset Finance customers to execute loan documents electronically from anywhere in the world - another Aussie first; and
CommBiz Mobile - Australia's first real-time business banking app dedicated to meeting the needs of medium to large enterprises.
Responding to the demand from today's customers for a simple, personalised and mobile banking experience, Commonwealth Bank will be launching CommBank Kaching for Facebook, a redesigned CommBank Kaching for Android App and new sharing and tagging capability in NetBank. For the first time in Australia, CommBank will launch SmartSign technology that will allow Asset Finance customers to execute loan documents electronically from anywhere in the world.
'Driven by mobile, the Cloud and social - customers are demanding a new banking experience that puts the world's most advanced technology at their finger-tips - whether it's in a branch, on the street, or from their smartphone. And for those touch points to work together, not independently,' said Michael Harte, Group Executive, Enterprise Services and CIO, Commonwealth Bank.
Commonwealth Bank customer usage data reveals that mobile is the most preferred banking platform with smartphones and tablets exceeding desktop logons. Over 1.56 million customers are now active mobile users. CommBank Kaching App has seen strong uptake with around 700,000 downloads and it has now processed more than $3 billion in transactions in 2012. Mobile now powers 46 per cent of all banking transactions. There has also been increase in online banking with almost 1 in 3 Australians (seven million) now accessing NetBank services online. Over 50 per cent of NetBank logins occur via a smartphone or tablet device.
While online banking has been skyrocketing, so too has Facebook in Australia. With more than 12 million Australians on Facebook and around three quarters of them logging in at least once a day, the opportunity for social banking is compelling.
'Peer-to-peer (P2P) banking is taking off, especially with a younger audience. Six per cent of P2P payments on CommBank Kaching are to Facebook friends and 28 per cent of P2P payments in CommBank Kaching are now made using Bump technology that allows money to be exchanged or a payment to be made by tapping two iPhones together. Social banking is poised to rise with the introduction of the CommBank Kaching Facebook app, as more customers transact with their friends and relatives on Australia's largest social platform,' said Andy Lark, Commonwealth Bank Chief Marketing and Online Officer.
Upcoming Commonwealth Bank new technology innovations
CommBank Kaching for Facebook - CommBank Kaching for Facebook will allow customers to meet their everyday banking needs without ever leaving Australia's favourite social network. It will allow them to pay their Facebook friends, group, event or anyone with a mobile number or email address within Facebook. They can request payments and put a notification to get CommBank Kaching payments for an event, group dinner or weekend getaway. They will also be able to gift CommBank Kaching payments to their friends and relatives for occasions. CommBank Kaching for Facebook app will go live in early 2013.
Redesigned CommBank Kaching for Android - CommBank Kaching has been redesigned specifically for Android. New enhancements include account scrolling, a redesigned interface, improved navigation and performance. The redesigned app will be available from mid-December.
Sharing and Tagging on NetBank - New enhancements to NetBank will allow customers to share their payments directly with their Facebook friends and tagging all their expenses. They can add and manage their Tax File Number directly in NetBank allowing them to manage their accounts during tax time. Investor Centre is a new NetBank Lab tool that will allow customers to monitor their overall financial position by viewing their assets and liabilities. Sending money overseas is easy with NetBank's new International Money Transfers and customers can stay connected 24/7 with their contacts by purchasing pre-paid Telstra, Optus and BigPond vouchers in NetBank.
CommBank Leo and Albert Point of Sale merchant terminals - Following the launch of the Commonwealth Bank Pi revolutionary point-of-sale platform, CommBank has been working closely with its partners, with more than 1,100 businesses and developers registering their interest. What's more, businesses will now be able to access CommBank Leo merchant terminals that attach to Apple iPod Touch or iPhone 4 and iPhone 4S to boost customer service and process mobile payments. A Software Development program is also being launched in the coming weeks for CommBank Albert, the revolutionary omni-commerce Android based device that will enable developers to build business apps on the Pi platform.
Paperless execution of Asset Finance agreements, SmartSign - In an Australian banking first, Asset Finance Customers can now execute loan documents electronically anywhere in the world, anytime enabling faster turnaround of customer agreements - same day without the need to print, sign and send back paperwork. Customers are able to review, authorise and approve documents on the Bank's secure online portal, from their computer or mobile device. In 2013, this new feature will be available across additional business banking services.
CommBiz Mobile - Launching in early 2013, CommBiz customers will have the convenience of managing their banking from iPads and iPhones with a dedicated app. Customers will be able to authorise all payments; view current day account balance and the 100 most recent transactions; and make payments. Ensuring customers can carry out their CommBiz transactions with complete confidence, the apps will run with NetLock -inbuilt, world class security. Later in 2013, customers will be able to transfer and Direct Credit on one to one payments and view advanced customer analytics on mobile devices.
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