It seems like your iPhone can do a thousand things apart from making phone calls. Many iPhone apps have an iPad version that leverages the availability of a larger screen. Banks in particular have caught on to the fact that their customers simply expect them to offer a mobile banking app.
Even “wealth management” banks have specially designed mobile apps for customers who want to see how their portfolio of shares and retirement investments is doing. For larger smartphone and iPad screens the graphics can be astounding, with a graph for every possible trend in the financial industry and graphic insights into a complete portfolio.
The ANZ offering
ANZ now has an array of mobile apps written for Apple mobile devices. “ANZ goMoney” is for customers who want to check account balances, transfer between linked accounts, pay bills or pay anybody using just their mobile number. “Grow by ANZ” is an app that helps wealth management customers build their financial knowledge and confidence by giving them valuable insights and tools. They can explore their banking, insurance and share investments in one place. “Currency by ANZ” lets them calculate foreign currency amounts and watch and manage favourite currency pairs. “ANZ Shield” supports larger payments in ANZ Internet Banking by generating an instant code on the client’s phone and allowing them to reset their Internet Banking password online. “Find ANZ” comes to the lost customer’s rescue by guiding them to the nearest ATM or branch.
The CommonWealth Bank offering
The CommBank app for Mobile enables customers to check accounts, transfer money and make payments. It also helps them find ATMs and branches and look up foreign exchange rates. The CommSec app is for wealth management functions such as live quotes and announcements, equity trading, share portfolio views, watch lists and market breaking information and insights. The Property Guide app is an excellent option for customers who keep an eye on the property market.
It gives them access to past sales histories, auction results and suburb insights, with a step-by-step guide to home buying and calculation of home loan repayments.
The NAB offering
NAB’s Internet Banking for mobile offers the usual functions that include checking account balances, transaction history, transferring of funds, increasing mobile banking daily limits, schedule fund transfers, find an ATM or branch and some handy calculators and tools. It also integrates to NAB Flik, which enables mobile payments.
No more branching
The mobile banking platform has a promising future and Australia’s banks have built strong foundations. The above three represent only a handful of what banks have to offer. The day will come when you’ll never have to walk into your bank’s branch again.
Buying a car, getting a home loan, buying forex for that Thailand holiday, investing your money, planning your retirement, building up savings – all these from the comfort of your home, or from the beach. That’s the way banking is supposed to work.