CommBank Launches New Banking Apps for Smartwatches

CommBank Launches New Banking Apps for Smartwatches

CommBank Mobile Banking App Smartwatches

CommBank’s customers will soon be able to use their mobile banking app directly on their smartwatches, including the Apple Watch, and enjoy the convenience of wearables.

CommBank Mobile Banking App SmartwatchesLast week, CommBank announced that they will be soon introducing their CommBank app for smartwatches.

While the Android app is in the pilot stage, the app for Apple Watch will be released soon.

According to the sources, the Android Wear app will be launched in a matter of a few weeks for smartwatches running Android 4.3 or higher. The app for Apple watch is in the final testing and may take a few more weeks.

With the new CommBank app for wearables, account holders will be able to carry out everyday mobile banking necessities including balance inquiry, ATM locator and cordless cash withdrawals from ATMs.

For more in-depth details about the CommBank app for wearables, click here.

Even though CommBank is not one of the first in the smartwatch banking innovation, it is definitely in the wearables race with the inclusion of its one-of-a-kind Cardless Cash feature on its app. The users will need to swipe on the wearable app to select the amount they want to withdraw. After a few seconds, they will receive a withdrawal code and a 4-digit pin on their smartwatch which will be valid only for a few minutes within which the user need to withdraw the money. They will need to use both of these to withdraw money from any CommBank ATM.

The CommBank account holders can already use this feature on their smartphone app that was released a year ago and accounts for more than 60,000 withdrawals a week.

In addition, the world is patiently waiting for the launch of Apple Watch, the pre-sales of which begin on Friday, April 10 and the device is set to hit the Australian market on April 24.

Once again, CommBank is demonstrating its goal to bank on wearables to empower both its retail and commercial customers.  Have you already ordered your Apple Watch?  We invite you to share your personal thoughts on wearable banking and the potential of smartwatches in banking and insurance: not only the Apple Watch but also the timepieces working on Android Wear like the LG Watch Urbane and the universal devices like the Pebble Time Steel.

If you enjoyed reading my article or if you wanted to react, I invite you to connect with me here, on twitter (@Visible_Banking) or on LinkedIn.

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Based in London, Christophe is an entertaining social media keynote speaker and a trusted advisor to the global financial services industry on the topics of social media, social business and digital innovation. Christophe has contributed to over 140 events in 18 countries. Currently, Christophe is 'Social Media Senior Managing Consultant' at IBM Interactive Experience. He's also a Digital Advisor at the Financial Services Forum and the Moller Centre (part of the Churchill College in Cambridge). Christophe's views on VisibleBanking.com are his own, not necessarily his employer's.

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