The addition of additional capabilities to Westpac’s banking app will provide consumers more tools for managing their money while also advancing the company’s larger technological strategy, which includes digital-first mortgages.
Through September, the national bank has made available its ION architecture-based features for Apple iOS and Android devices.
To access the new features, which include personal finance insights, new budgeting tools, and the ability to track and categorise costs, users must have the Westpac App version 10.9.0.
The bank said that the new capabilities are crucial to its overall digital strategy, which was discussed in the market update from July and focused on its plans for a digital mortgage service that will be accessible through its banking app.
Additionally, it is rumoured that it is getting ready to work with environmental fintech Cogo to create a carbon footprint tracker in its app early the following year.
De Bruin said that the bank is “beginning to build the muscles and the machinery” to act more quickly in a Westpac Wire article.
There are a few procedures we could streamline, but the fact that we now publish updates every two weeks instead of quarterly shows that we’re getting closer to being a business that operates at digital speed.
Australians are paying 87 percent higher in cost-of-living charges, according to a survey of 2000 people conducted by Westpac and Lonergan Research.
According to the data, 76% of Australians believe that digital banking will improve their ability to keep track of things.
