Mobile banking has been hugely successful for Commbank. In the past 12 months the bank has almost doubled its mobile banking customer numbers from 1.7 million unique users to 3.7 million.
Commbank executive general manager of retail products and strategy, Angus Sullivan said the transition to mobile is a huge opportunity for the bank. Already, two thirds of the bank’s logins are through the Commbank app on a mobile device and customers are using that, on average, twice a day.
“We’ve seen enormous uptake in that over the past couple of years,” he said. “We’ve seen uptake much more rapidly than expected.”
The bank is also processing about 75,000 cardless cash transactions a week.
Now Commbank is building out its mobile wallet offerings.
Loyalty programs will be available within your Commbank account with Virgin Velocity, Myer, Bupa and Dan Murphes some of the loyalty programs initially available. Sullivan said there will also be a whitelabel loyalty program option which companies or users can set up.
“I’ve got a wallet which is stuffed full of these pieces of plastic… having all that loaded digitally is a great source of convenience for customers,” Sullivan said.
Launching an offers program with Scentre Group, owners and operators of Westfield shopping centres, Commbank is also piloting a program where customers will be able to receive targeted offers when they’re in Westfield shopping centres.
“It will provide more benefits to our customers when they’re out and about shopping which are relevant and timely,” Sullivan said.
Initial testing will be geographically constrained to begin with but the bank hasn’t revealed where the pilot will launch.
It will be rolled out on Android first and iOS will follow in a few weeks time.