Australian Banks Release iPad Apps – St.George & NAB iPad Ready

Well, iPad fever certainly seems to be sweeping through Australia, though you have to wonder if all the delays in the release contributed toward the mad rush to buy one when they finally appeared in the stores. Not that you can deny it certainly looks to be a tantalizing little gadget that many would like to get their hands on.

A quick check of the current price averages out around the $629 mark so it’s still reasonably priced for the average consumer, particularly if you compare it to the early days of PCs. I still remember paying around $4000 for my first desktop, which by today’s standards would be classed as a dinosaur, compared to what the iPad can do for a fraction of the price. If nothing else I suspect laptop prices will have to start getting a bit more competitive to stay in the race.

Australian banks have often been seen by the masses as the last bastions to embrace technology, until it has been firmly established in the marketplace. However, it seems we might need to change that perception if we can believe the latest news headlines. There have been multiple announcements by the press about the eminent release of applications developed specifically, by several major banks, to use for the Apple iPad tablet. It is understood from the banks that this move has been motivated by the increased use of mobile banking.

Are Australian customers ready for the iPad?

There has been some criticism implying that the banks would have been better employed improving their websites to be more user friendly. However, the general consensus seems to be that the new iPad apps will lead to better customer satisfaction when using banking services. Some of that remains to be seen and will only be known when some statistical facts have been collected.

St.George

St.George Bank is releasing their first dedicated app next week. Customers will be able to download the app from the Apple iTunes store for free. St.George advises that this application will introduce a full range of functionality for the customer who chooses to use the product, and far exceeds what is currently available for use with the iPhone.

For a sneak preview of what we can expect with the iPad apps we list the proposed features below:

• You will be able to find the closest branch office for St.George or Bank SA and/or ATMs for St.George, Westpac, Bank SA. This will be based on your current GPS location or by stipulating a suburb or postcode.
• At the touch of a button access contact information such as the Lost or Stolen Card line, find out branch hours or general information.
• Access all the features of Internet Banking 24 hours a day 7 days a week your iPad.
• Check current rates for savings and transaction accounts, foreign exchange or lending rates.
• A range of simple selectors to assist you pick a home loan or credit card, savings account or transaction account.
• Support service to contact the bank.
• Latest release banking videos.
• Access information about available products or services.

For Your Information

This offer is subject to systems availability. Information prepared in these screens does not take into account your financial needs or individual circumstances. Before your first use of Internet Banking, you should read the terms and conditions and ensure that the service is appropriate to your needs. This application is compatible with iPod Touch.

Where To Now

Statistics show that over 110,000 customers use St.George’s service for mobile banking. The bank is expecting the iPad to be more popular for home usage. It is expected that we will continue to see developments of functionality for the iPad and iPhone, given it has the potential to provide a greater experience for banking customers.

The National Australia Bank is expected to follow closely with the release of their own iPad apps. Whilst the functionality will be expanded in the future, at this stage it is known to include all NAB Internet services, an ATM plus branch locator in addition to currency exchange rates. It is expected Westpac will be monitoring the progress of the other banks but has not committed to any launch at this date.

ANZ and the Commonwealth Bank have made no statements regarding a dedicated iPad app but are updating their online site to ensure it meets requirements for viewing with an iPad.

It will be interesting to watch the development and uptake of the iPad technology by other banks and financial institutions. It’s possible that some of them are holding off to see whether this is just another fad or will the iPad be a major player in driving how the consumer does their banking in the future.

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