Story image

More Kiwis banking on their smartphone

16 Oct 14

More and more Kiwis are using apps on their smartphones as opposed to internet banking to manage their money.

This shift is being described as one of the biggest and fastest in the banking sector when it comes to consumer behaviour, and it’s set to continue.

Google research suggests New Zealand is ranked 17th in the world for the amount of smartphones owned and it’s estimated that 65 percent of Kiwis have a smartphone.

ASB is one bank that has noticed this shift. ASB introduced its mobile banking app in 2012 and it took less than a year for customers to use the app more than internet banking.

Fiona Colgan, general manger digital, ASB says the gap has widened further. “The number of active customers using ASB’s mobile app has increased by more than 40 percent over the past year,” she says. “Customer uptake and usage of our app is growing weekly and with 90 percent of New Zealanders estimated to be on smartphones by 2018, growth in this area shows no signs of abating.”

The app has already handled 25 million transactions since it was released and has grown at four times the rate of FastNet Classic internet banking, says Colgan.

Initially, when internet banking was introduced, customers were nervous about security, Colgan says. Apps such as ASB Mobile have security measures in place such as Netcode to ensure customers have peace of mind.

Colgan says customers today live on the go, and mobile banking is the easiest choice, with simple and quick means to check their balance and keep up with bill payments.

Valve stops Steam Link hardware sales; promotes Android app instead
Valve announced that its supply of Steam Link hardware has sold out – and by the looks of it, it won’t be making any more.
Hands-on review: Spyro Reignited Trilogy brings back the PSOne icon
Spyro Reignited Trilogy is a great remake that features new school graphics with old fashioned style of gameplay.
Don't let criminals ruin your online shopping
It’s that time of year again. Not only have New Zealanders developed a bit of a taste for sales like black Friday and cyber Monday, the holiday season is well upon us.
Student app Niesh gets $1m funding windfall
“We’re a data driven company, and we’re using what we know to benefit students and the companies giving them rewards, discounts, and jobs,” explains co-founder Jae Yoo.  
NZ-grown fitness app draws on augmented reality
“I started working on creating an AR app over a year ago starting with just fitness. But as we moved on, it made sense to add in special features."
NZ's online merchants can now offer Google Pay
With Google Pay, customers will be able to speed through checkout with just a few clicks."
Hands-on review: Intel Core i7 8086K Limited Edition
Whilst I’ve seen commemorative coins and stamps, I’ve never seen a commemorative CPU. Intel’s Core i7 8086K is exactly that.
Hands-on review: Logitech G1 Pro Gaming Headphones and Mouse
For the serious gamer, this kit will have you happily spreading mayhem in glorious surround sound.