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Mobile banking reaches tipping point in NZ - ASB

Contributor:
Fuseworks Media
Fuseworks Media

New Zealanders’ appetite for online banking has reached a crucial tipping point according to ASB, with more than half of ASB customers who access their bank accounts electronically now doing so on a mobile device.

"The rapid adoption of mobile banking represents one of the biggest and fastest shifts in customer behaviour we have seen over the course of ASB’s history," says ASB’s Head of Digital Experience and Commerce Michael Ramsay. "For the first time, the majority of customers doing their banking online are using a mobile device rather than a traditional desktop browser. The remarkable growth in mobile banking is all the more significant given that ASB’s mobile app was only launched in 2011."

"In only a relatively short time, mobile banking has evolved from a niche technology into an accepted part of everyday life for most customers," says Mr Ramsay.

"New Zealanders were quick to embrace mobile banking from the outset. In the first year following the launch of ASB’s mobile banking app, the volume of transactions was already more than four times the number that took place in the first year of internet banking. Only seven months ago, less than a third of customers were accessing internet banking via mobile. Now, banking via a smartphone or tablet has become the preferred channel for an increasing number of Kiwis and there is accelerating demand for an ever expanding range of banking services offered over mobile."

"It’s clear that New Zealanders have become increasingly comfortable with mobile banking and value the convenience and range of banking functions their mobile device is giving them," says Mr Ramsay. "The consistent feedback we receive from our customers is that they value the benefits of being able to do their banking whenever and wherever they choose."

ASB has introduced a range of innovative new features to its mobile app since it was first launched. Using the ASB Mobile app, customers can make payments using only mobile phone numbers and email addresses rather than account numbers. ASB is also the only bank in New Zealand to offer payments direct to Facebook ‘friends’. Customers can also make payments directly to Trade Me sellers without exchanging bank account information and check their KiwiSaver balance.

The new ASB Mobile Business App will be launched later this year and will allow Fastnet Business customers to view FastNet Business balances, send and authorise payments, view payee information, and set their mobile app to be used as their Netcode device.

For the last two years, Canstar has named ASB as the best provider of online banking in New Zealand.

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