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Commonwealth Bank rolls out iPhone app, CIO touts real-time platform

Kaching integrates social media, NFC and GPS

The Commonwealth Bank has launched a new mobile app which allows users to transfer funds to friends via their Facebook accounts or mobile device.

Speaking at the launch of Kaching today, group executive enterprise services CIO, Michael Harte, said the app, at this stage only developed for the iPhone, is a continuation of the bank’s commitment to providing services in real time and to its mobile audience.

“None of the other competitors at the moment have a real time platform that we provide for our users,” Harte said.

“We’re the seventh largest bank in the world and we’ve made a multi-layered commitment to being in real time.”

The app leverages GPS and near field communication (NFC) contactless technology to allow users to make peer-to-peer payments to any bank within Australia or overseas.

General manager of credit cards and retail strategy, David Lindberg, said smartphones, NFC, GPS and real time banking are the four technology trends that drove the Commonwealth Bank to create the iPhone app.

“A lot of the investment is going to be coming from commerce,” Lindberg said.

“So what’s really interesting is that if you know who the person is and you know where they are, you can process a payment via GPS and in real time, and we believe this will be very powerfull.”

With plans to announce an Android app in the next few months, Commonwealth Bank users are able to pre-register for the app from today.

Follow Lisa Banks on Twitter: @CapricaStar

Follow CIO Australia on Twitter: @CIO_Australia

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