CBA unveils latest mobile banking services

The Commonwealth Bank (CBA) is set to launch a range of new services that will make it easier for customers to access their bank accounts on the move.

More and more Aussies are using mobile banking applications via their smartphones and tablets and the nation's major lenders need to ensure they provide the latest technology so they do not fall behind their rivals.

CBA has recognised the booming popularity of social media and some of its new offerings are centred on sites like Facebook.

With more than 12 million Aussies having an active Facebook account, it is no surprise the bank has made its CommBank Kaching service available through the social networking site.

Users will be able to make payments to people who are on their "friends" list and they can also request money for an event or holiday that has been booked as part of a group.

CBA has also created a new version of its Kaching function that has been designed specifically for Android-powered devices.

Michael Hart, group executive of enterprise services and chief information officer at the bank, suggested that technology has changed the way people engage with their bank.

"Driven by mobile, the cloud and social – customers are demanding a new banking experience that puts the world's most advanced technology at their finger-tips – whether it's in a branch, on the street, or from their smartphone. And for those touch points to work together, not independently," he remarked.

The company also unveiled details of its CommBiz Mobile app, which is aimed at business banking customers and is due to be launched in 2013.

Changes have also been made to the NetBank system, allowing customers to share their payments directly with their Facebook friends and tagging their expenses.

Last month, CBA confirmed it was upgrading 3,500 of its ATM machines across Australia.

The new cashpoints would enable customers to deposit cheques and money 24 hours a day, with their balance increasing in real time. This is yet another clear sign that CBA is moving with the times.

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