Westpac unveils next generation of mobile banking
23 July 2012
Westpac today unveiled a new era in mobile banking with the launch of Australia's most innovative and customer-led iPad1 application that takes full advantage of the tablet's latest features.
Westpac customers have been at the forefront of the design of the Westpac Banking app which is among the first to be specifically developed by an Australian financial institution for use on the iPad. Its launch comes as more than 1.4 million+ customers now actively use Westpac Group’s mobile channels.
The new app removes traditional drop down menus and allows customers to complete transactions in the easiest ways possible by using the iPad's touch capabilities. Westpac customers will have the ability to drag and drop their accounts to transfer funds, pay anyone and make BPAY® payments.
Speaking at today's launch of the new Westpac Banking App in Sydney, Jason Yetton, Westpac Group Executive, Retail and Business Banking, said that digital "on the move" banking was already revolutionising an industry which had just adapted to the radical changes brought about by online and desktop services over the last ten years.
Where it had taken 80 months for online banking to be used by over 1 million Westpac customers, mobile banking had taken just 30 months to top that same figure. Mr Yetton predicted the iPad and other tablets would accelerate that change as customers take the lead in choosing how to control their money and interact with their bank.
"We have seen extraordinary growth in the popularity of mobile banking and our customers are craving more digital solutions that move beyond traditional banking services," Mr Yetton said.
"With the anticipated introduction of less expensive tablets, it is forecast that by 2016 one in two Australians will own one of these devices. This is dramatically changing the face of banking. Westpac has embraced this change and will continue to do so as we look forward to being part of our customers’ digital world, today and everyday."
Westpac General Manager, Online and Mobile, Harry Wendt said: "Our customers have been instrumental in helping design this innovative application, making it a simple, flexible and progressive solution to meet their banking needs.
As the demand for banking on smartphones and tablets grows, we will continue to innovate and enhance our offerings to meet the needs of our customers who are at the forefront of what we do.”
According to Westpac Group Chief Information Officer, Clive Whincup, the development of mobile solutions has been enhanced by the bank’s multi-brand approach where the best ideas and solutions can be utilised group-wide.
These include being able to offer customers, on the go or at home, the ability to open term deposits, savings and transaction accounts via smartphones, mobile capability for bankers and brokers, mobile payments for small and medium sized businesses, online investing share trading and personal budget planning.
New customer-led applications are currently being developed with further launches anticipated in the coming weeks.
“More than one third of our online customer activity is currently carried out via mobile. We’ve recognised this trend and that is why we are investing heavily in transforming the infrastructure and functionality of our online and mobile channels,” Mr Whincup said.
The Westpac Banking App is available for free from the App Store on iPad or at www.itunes.com/appstore.
1. iPad is a trademark of Apple Inc., registered in the U.S and other countries.
BPAY® is a registered trademark of BPAY Pty Ltd ABN 69 079 137 518.