ANZ launches new business banking app

There is no stopping the mobile banking revolution. According to new figures published by research analyst Gartner, the big four banks in Australia processed $10 billion worth of mobile transactions last month.

The Australia New Zealand Bank (ANZ) racked up five million transactions valued at some $3.5 billion and Westpac wasn't far behind with a cool 3.3 million transactions via mobile.

However, while the consumer market has been quick to adopt mobile banking, it has been a different story in the world of business. The lack of enthusiasm is likely down to security concerns – amongst other things. But it does look like the attitude of business banking customers is changing.

Which is why ANZ is primed to launch a new app for its Australian and New Zealand corporate clients later this year, which will allow them to view their finances from their iPhones, iPads and iPods.

With security at its heart, the new app will only have limited applications at first, but ANZ hopes to develop its suite of business banking tools going forward. ANZ will also be hoping to introduce apps for other smartphone operating systems too – such as Google's Android OS.

Payment tools and access to the latest FX rates are two aspects of the app that will be developed when security is tightened.

Anne Collard, global head of product & channel management, payments & cash management at ANZ, said: "By recognising that chief financial officers and treasurers are increasingly spending more time on the go, we wanted to give our clients a fast, simple and convenient mobile banking experience that enables them to be as productive on the road as they are in the office."

She added that the introduction of mobile banking for businesses was a huge milestone for ANZ that would allow the bank's many corporate clients to manage their capital while in the office and out on the road.

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