Additional Comments on Crowdsourcing, Goal Oriented Savings, PFM, and Twitter
In essence, even though the app brilliantly leverages the new core banking system of the bank and ‘Real-Time banking’, the key focus of this app is clearly mobile payments and the bank has clearly set a new standard for the industry. Congrats to David, Andy and their colleagues.
Having said that it’d still be interesting to compare it to Korea’s Hana Bank mobile application ‘Hana N Money‘ launched last year…
Now that CBA reached its goal of leading in mobile payments, I’d be curious to find out more about their product roadmap. Andy Lark started to share some info with me during our video interview (available soon).
I’m hoping CBA’s future mobile releases will include services such as:
* goal oriented online savings: like Smartypig or Standard Chartered Breeze’s Whish List),
* crowdsourcing: like the user-generated savings tips by Nykredit’s,
* payment via twitter: like the service launched this week by Pygg.co (also based in Australia),
* PFM: like Credit Agricole’s MonBudget app in France…
Now, let’s see how quickly CBA’s customers on iPhone start downloading and using this app, and how smartly CBA will leverage social media to increase awareness, capture feedback and the Voice of their Customer, and turn them into raving fans and their best brand ambassadors.
According to you, how quickly do you think Australian banks will react? Can they do so, without similar investments into their core banking system? And what bank, in which country, will be able to claim back the title of most innovative mobile banking app? To be continued…
Very few of ‘the active tweeps’ on the day have more than 1,000 followers. I know it is not just about size of the audience, I didn’t have time to check their klout scores, but it is still a good initial indicator…
On that level, FNB did a brilliant job with hundreds of tweets and some immediately actionable feedback on their new application. Of course, in CBA’s case people had to register their interest first.
A special kudos to the most active tweeps: 1. @ozdj, 2. @Visible_Banking, 3. @AldingaMedia, 4. @Andrew_Haynes, 5. @BeauGiles, 6. JamesGiang, 7. ServantofChaos (??).
Similarly to FNB, the main feedback from twitter was about the choice of OS and the avaibility of the application, initially only available to the iPhone users. David re-assured the crowd when he confirmed the bank is committed to roll out versions of the app for every single relevant OS such as Android, Windows (which will play Android apps?), possibly Nokia…
Demo of the Kaching App for iPhone
I invite you to watch the short video I shot at CBA’s event yesterday morning.
I invite you to check out my pictures of the event. Please feel free to comment and tag them, and add your own pics.
Official YouTube Video
I invite you to watch the official video on the Commonwealth Bank’s Youtube channel.
* Kaching! Commonwealth Bank’s NFC App Gets Cashed Up (Alex Kidman, Gizmodo)
* First Look At The Commonwealth Bank’s Kaching App (Angus Kidman, lifehacker)
* Commonwealth Bank kick starts end of the credit card with new payment app (Sonja Koremans, news.com.au)
* It’s the end of the credit card era with Commonwealth Bank’s Kaching app(Maureen Shelley, The Telegraph)
* Kaching! CBA unveils NFC iPhone push (Luke Hopewell, ZDNet)
* Kaching: Commonwealth Bank first with NFC payments for iPhone (Ross Catanzariti, PC World)
* CommBank first commercial NFC provider in Australia (Andrew Colley, Australian IT)
We at Visible Banking would be delighted to help you and your team better UNDERSTAND and LEVERAGE social media in a strategic yet pragmatic way. So please don’t hesitate to call me, send me an email or DM me (@Visible_Banking) to book a meeting and talk about twitter, facebook,crowdsourcing, customer reviews, social media & social commerce in banking, financial services and insurance.