Published on the 29/11/2012 | Written by Newsdesk

Customers will soon benefit from Australia’s first real-time business banking app, as well as ground-breaking new functionality across CommBank Kaching for Android, Facebook and NetBank…

Commonwealth Bank is responding to the demand from today’s customers for a simple, personalised and mobile banking experience. 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 and the CommBank Kaching App has processed more than $3 billion in transactions in 2012. Mobile now powers 46 percent of all banking transactions. There has also been increase in online banking with almost 1 in 3 Australians (seven million) now accessing its NetBank services online. Over 50 per cent of NetBank logins occur via a smartphone or tablet device.

As a result Commonwealth Bank has revealed a number of firsts for Australian and global banking, launching in 2013 including:

• CommBiz Mobile – Australia’s first real-time business banking app dedicated to meeting the needs of medium to large enterprises;
• First banking services in Facebook, offering Australia’s 12 million Facebook users a simple and convenient way to pay and save;
• New sharing and tagging capability in NetBank – Australia’s #1 Online Bank;
• New version of CommBank Kaching – Australia’s #1 digital wallet – designed specifically for Android;
• New SmartSign technology that will allow Asset Finance customers to execute loan documents electronically from anywhere in the world – another Aussie first; and
• The world’s most advanced merchant terminals…

Michael Harte, CIO and group executive for enterprise services at Commonwealth Bank said: “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.”

CommBiz Mobile will launch in early 2013 and its customers will be able to conveniently manage their banking from iPads and iPhones with a dedicated app. They will be able to authorise all payments; view current day account balance and the 100 most recent transactions; and make payments.  The apps will run with inbuilt, world class security, NetLock, to ensure that customers can carry out their CommBiz transactions with complete confidence. 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.

In another Australian banking first, SmartSign allows for the paperless execution of asset finance agreements. Asset finance customers can now execute loan documents electronically anywhere in the world, anytime, enabling same day turnaround of customer agreements 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.

At the point of sale end of the banking spectrum, 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.

On the consumer front CommBank Kaching for Facebook has achieved a world first, allowing 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. Users can request payments and put a notification to get CommBank Kaching payments for an event, group dinner or weekend getaway, or gift CommBank Kaching payments to their friends and relatives for occasions. CommBank Kaching for Facebook app will go live in early 2013.

New enhancements to NetBank will allow customers to share their payments directly with their Facebook friends and tag all their expenses, amongst other things. The CommBank Kaching App has also been redesigned specifically for the Android platform.