Commonwealth bank has revealed a number of updated and new banking technologies within the mobile and social media space, which it will be launching in 2013.
The company will make available a banking service for Facebook, Kaching for Facebook, which will enable users with a new medium to pay and save. An updated version of Kaching will be specifically designed for Android.
It will also be introducing a new sharing and tagging capability in NetBank, a new SmartSign technology that will allow asset finance customers to execute loan documents electronically from anywhere in the world, as well as CommBiz mobile -- a real-time business banking app dedicated to meeting the needs of medium to large enterprises.
According to Commonwealth enterprise services group executive and chief information officer, Michael Harte, the consumer use of these platforms was the reason behind it choosing to launch these technologies.
"We look at the customer and how they want to interact with us across a variety of devices and across a variety of channels. We're keeping up with social and the growth of mobiles and tablets," he said.
CommBank said thus far, there have been four million CommBank app downloads, 2.8 million contactless transactions, 120,000 customers accepting contactless terminals and three billion Kaching payments.
"It has not only enabled us to have a completely different architecture, but it has allowed us to invest more and be relevant socially and in a mobile context."
Harte is expecting banking to evolve further in the coming years.
He said mobile will outgrow desktop, social media will become reality and data analytics will be used to manage finances.
"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," Harte said.
The company also signed a Cloud partnership with Amazon, moving its website to Amazon Web services.
The technologies in detail:
- Kaching for Facebook -- It will allow consumers to pay their Facebook friends, group, event or anyone with a mobile number or email address within Facebook. They can request payments, put a notification to get Kaching payments for an event, and gift Kaching payments.
- Redesigned Kaching for Android -- New enhancements include account scrolling, a redesigned interface, improved navigation and performance.
- Sharing and Tagging on NetBank -- New enhancements 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. Investor Centre is a new NetBank Lab tool that will allow customers to monitor their overall financial position by viewing their assets and liabilities.
- SmartSign -- Asset finance customers can execute loan documents electronically anywhere in the world, from the 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.
- CommBiz mobile -- CommBiz customers can manage 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.