The Co-operative Bank unveils mobile banking app for both iPhones and Android smartphones

The Co-operative Bank unveils mobile banking app for both iPhones and Android smartphones

The Co-operative Bank has launched its mobile banking application, as the bank begins rolling out what CEO Bruce McLachlan has pledged will be "one of New Zealand's best online and mobile banking experiences."

The bank says the app is available for both iPhones and Android smartphones.

Using the app, Co-operative Bank says customers can check account balances, view transactions, transfer money between their Co-operative Bank accounts, and make up to $5,000 worth of payments per day. Payments can be scheduled up to 60 days in advance.

"With just one touch, you'll be able to view all your account balances, transactions over the next seven days, and the previous seven days of your activity across all your accounts – no more hunting across your accounts to find a transaction," the Co-operative Bank says.

"You'll be able to do most things you can do on internet banking, including making payments, managing your payees and transferring between your accounts. You'll be able to customise the app with your own images and photos. The app is super simple to use, you just swipe to switch between your accounts or view your transactions. The app has a unique easy process to transfer money between your accounts. You'll be able to use images to help you easily select between accounts or payees."

The app also features a payment failed alert enabling users to rectify failed payments on the same day they occur.

McLachlan last month told interest.co.nz the Co-operative Bank was spending about $2 million, working with Wellington firm Alphero, as it strives to develop "one of New Zealand's best online and mobile banking experiences" over this year and next. Formerly PSIS, the Co-operative Bank secured banking registration from the Reserve Bank in 2011 and changed its name.

Given the Co-operative Bank has "minimal legacy issues," McLachlan said it has been able to design an app that uses the latest technology and innovations in user design.

"We believe our application will rival those of any of the major, foreign-owned banks operating in New Zealand. It shows that we understand where the future of banking is headed, and that we’re agile enough to respond," said McLachlan.

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