Julieanne Strachan August 19, 2012
Australians are increasingly using their mobile phones to do their banking, with Community CPS Credit Union reporting nearly 20 per cent of transactions in June were via smartphone devices.
The CPS launched its first iPhone app in January this year and already more than 15,000 members have downloaded the app nationally.
Strategic program manager Stuart Warwick said demand was fuelling the supply.
''We have had such positive feedback from our members, and those who don't have iPhones expressed their interest in being able to use the app on other devices, so we have expanded its availability,'' he said.
Due to its expectation that this trend will continue to grow, CPS expanded its app late last month to be suitable for iPads and Android smartphones.
''The reason this is becoming so popular is because it's very convenient and people can get access to their financial needs anywhere at any time,'' Mr Warwick said.
''This is particularly useful for people with busy lifestyles and regional communities that might not have easy access to their financial institution in person.''
In a sign that they are being used by customers who are on the run, the most frequently used mobile app tools were for balance inquiries, followed by checking transactions, transferring funds, using BPay and locating the nearest ATM and branch.
Mr Warwick said the CPS wanted to continually update its app to keep pace with as the market demands changed.
''Future changes may include adding features such as opening accounts online and having everyday personal finance tools at your fingertips,'' he said.