Mobile Banking – On the go!

07 Jul

When was the last time you stood in the queue to check your account balance? When was the last time you felt the need to walk into a branch? Or do you just use your mobile…

A lot of us I’m sure use mobile banking on the go on our mobiles and not surprising that it is quite a utility that we like to have at our finger tips. Just like many other services being made available on our smartphones, whether you’re travelling or just know that your banking information is available at hand when required by you.

Just like many of us, I remember starting to use the banking on my mobile when my bank started to offer it and really there wasn’t much available at that point in time except the fact that you could log-on and check your balances, the updates weren’t that quite synced with your actual account and moreover the look and feel of it too wasn’t that polished. Well, we’ve now moved on and you would’ve noticed that almost all the banking institutions now have started to push the ‘mobility’ factor as a feature or a value-add as part of their day to day services. 

Mobile Banking – On the go!

Commonwealth Bank in Australia a few months ago, started to list property using Augmented Reality and not sure if you’ve come across the vision piece from Commonwealth Bank video from the bank. It’s a bit old now but you can see the thinking behind it. The Commonwealth Bank also have information on their website about mobile banking. Interestingly, you will note that the iPhone and Android have apps whereas if you’re on a blackberry then you still have access to the banking but not via an App experience but a mobile site. Not sure if you’ve noticed but the banks have tailored their experiences depending on the number of users on a particular device e.g. iPhone, Android being the two most widely used phones. It’s also worthy to note that some of the experiences are also different – for example, the Commonwealth ‘NetBanking’ user login from the mobile takes you to a new screen which seems like a mobile site version whereas banks such as ANZ in their goMoney give you a native iPhone experience so you’re not jumping around screens. But again, that’s a different topic with a lot of variants whether it needs to be via a mobile website or all through an App, in this instance let me not start off being nerdy and going away on a tangent!  

Banks seem to have realised the potential of mobile!  

There are many industries out there which are still yet to harness the potential of using mobile as a channel, be it for their marketing or providing customer service via mobile or leverage the mobile as a true one on one loyalty channel. But, on the other hand, banks seem to have taken this on their stride and have developed a good amount of services and seem to be busy actively pushing the mobile factor as part of their service offering. Sure you’ve seen some of their messages such as the St. George Bank, NAB and Westpac leveraging marketing material to push the message out to consumers including signage, posters and visual displays outside of their branches. The ING gorilla holds an iPhone too in newspaper AD’s and the info on ING’s mobile banking is on their website too. NAB on their YouTube channel has videos with demo’s for banking on iPad’s  which has features such as branch locator, getting directions to get there, foreign exchange rates and a few other handy features. NAB also has the info on their website. The Commonwealth Banking mobile banking App shows you the transactions almost in real-time so there’s no wait for it to be updated as that could be quite frustrating when you’re on the go and need to know. There’s also the ANZ banking app that has a feature where you could pay to a mobile number which I’ve used a few times and find it quite useful especially in social circumstances. Example, the other day we were at a restaurant and we were bill sharing – and all I did was took out my iPhone, fired up the ANZ goMoney App and used the “pay to mobile” function transferring the dosh straight onto my friends account by punching his mobile number. The other bit, which a few of mobile banking apps have done is taking customers who use the App for the first time through a series of say tutorials or a guide of some sort that reassures you of the services and also leveraging the true potential of messaging that is relevant to the medium. In this example here, I’ve taken some screenshots from when I used the ANZ goMoney App.

ANZ goMoney App - Mobile Banking

ANZ's "About" screen from the goMoney banking App

Catering for Android too.

Don’t have an iPhone? A lot of banks are now moving towards having services available on phones running Google’s Android operating system too. The National Australia Bank (or NAB as we refer it to…) also caters for the non-iPhone audience and has a video demo’ing their service and how it works on an Android. I’m not an NAB customer but it does seem quite simple and user friendly to use. Commonwealth Bank also announced and has services for folks on Android.

Some banks such as Bank of America have and obviously gone all the way to catering to people on different mobile platforms or accessing the banking from different devices such as the iPad, iPhone, Blackberry.

With the onset of new technology just around the corner such as the ‘Near Field Communications’ or ‘NFC’ as the NFC term is quite being thrown around as a buzz word already. Think we’ll see a lot more of Augmented Reality, 3D and interactive experiences via mobile devices. Maybe we’ll be able to see money flying into our accounts!! I’d rather be positive and not say money flying out 😉

Here’s some of the useful links on mobile banking which we’ve discussed in this piece.

Commonwealth Bank Vision Piece Video

ANZ  goMoney Demo

NAB Android Demo

NAB iPad Demo

NAB Website with info on their mobile banking

 St.George Banking App – iPad Video

Bank of America mobile banking – Video

Happy banking on the go! Do let us know your thoughts and if there’s any other cool apps or mobile banking stuff out there that you’d like to share.

For those who would like to know more about NFC. This video is a lengthy one, but goes through it all from Google.



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