CBA launching multiple technology upgrades for 2013
(03 December 2012 – Australia) Commonwealth Bank of Australia (CBA) announced a number of innovations it will release in 2013, in response to demand for simple, personalised and mobile banking experiences.
CBA 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.
The bank’s 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 A$3 billion in transactions in 2012.
Mobile now powers 46 percent of all banking transactions and there has been increase in online banking with almost one third of Australians (seven million) now accessing NetBank services online. Over 50 percent of NetBank logins occur via a smartphone or tablet device.
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 percent of P2P payments on CommBank Kaching are to Facebook friends and 28 percent 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.
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.
The bank’s 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 A$3 billion in transactions in 2012.
Mobile now powers 46 percent of all banking transactions and there has been increase in online banking with almost one third of Australians (seven million) now accessing NetBank services online. Over 50 percent of NetBank logins occur via a smartphone or tablet device.
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 percent of P2P payments on CommBank Kaching are to Facebook friends and 28 percent 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.
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