Westpac set for first SmartWatch banking app

Westpac New Zealand is poised to release the first integrated mobile banking app for a SmartWatch device.

The app, initially available exclusively on the Sony SmartWatch, will later be extended to other smart watches as they become more widely available in New Zealand.

Westpac says this development offers unrivalled convenience for customers and helps answer the most frequently asked question in banking, "What's my balance?” at the touch of their wrist.

The Cash Tank app was used nearly 40 million times over the last year.

Westpac Head of Digital Simon Pomeroy says smart watches are the next frontier of app development as customers continue their uptake of mobile devices.

“Customers are adopting all forms of mobile technology at an extraordinary pace," he said.

"We see this development as another step forward and a key part of our strategy to offer them the best digital banking experience in New Zealand with unparalleled functionality across all devices."

The SmartWatch app is based on Westpac NZ's ground breaking Cash Tank app that allows customers to get up to date balances without any authentication.

Pomeroy says Westpac is now working on extending the functionality of the app to offer customers quick transfers between their bank accounts and the ability to receive account alerts to the watch.

Cash tank is also available as a widget on Android and has been replicated by numerous banks around the world.

A release for the new SmartWatch app is to be confirmed.