Commonwealth Bank, NAB, ANZ see strong growth in Internet banking

Australians are turning to Internet banking in greater numbers, according to figures released by Commonwealth Bank of Australia (CBA), National Australia Bank (NAB) and ANZ Banking Group.

According to CBA's first half of 2014 financial results, CBA NetBank logins via tablets and smartphones were at 70 per cent, while the remaining 30 per cent were from desktop computers.

The total value of CBA's Internet banking transactions was at $450 million in the first half of 2014, up from approximately $400 million for the 2013 financial year.

Internet banking transactions made up 21 per cent of all CBA customer transactions. However, EFTPOS payments dominated with 62 per cent of transactions, while ATM transactions were at 13 per cent. Branch transactions made up the remaining 4 per cent, according to CBA’s half year 2014 financial results.

As at 30 June 2014, NAB Connect processed $8.2 billion in transactions. This was up 26 per cent from the figure of $6.5 billion posted on 22 July, 2013.

NAB Internet Banking processed $2.5 billion in transactions as at 30 June, up 9 per cent from the $2.3 billion recorded on 28 June last year.

According to NAB workplace service management general manager Lisa Palma, the figures were a “strong endorsement” of its Connect platform.

"Customers can now bank whenever, wherever and however they chose, and these 30 June numbers show NAB customers are doing this in record numbers,” she said in a statement.

  • NAB posts 1H profit of $2.86 billion, provides NextGen update
  • CBA announces new CIO
  • Westpac Australia confirms two new IT appointments
  • The bank also reported that its UBank customer portal, which uses the Oracle banking platform, increased customer logins by 12.7 per cent. NAB’s insurance division, MLC, had 20 per cent more logins as at 30 June than in 28 June 2013.

    A NAB spokesman told CIO Australia that it doesn’t release the specific numbers for logins, only the growth percentages.

    An ANZ Banking Group spokeswoman said that its total Internet banking transaction volumes were up 37 per cent on the same time period last year.

    "Total transaction value was up 14 per cent on the same time period last year and up 8 per cent on the month prior [May 2014]," she said.

    Internet banking logins were up 3 per cent on 2013.

    CIO Australia has contacted Westpac for a response.

    Follow Hamish Barwick on Twitter: @HamishBarwick

    Follow CIO Australia on Twitter and Like us on Facebook… Twitter: @CIO_Australia, Facebook: CIO Australia, or take part in the CIO conversation on LinkedIn: CIO Australia

    Related:

    Copyright © 2014 IDG Communications, Inc.

    The CIO Fall digital issue is here! Learn how CIO100 award-winning organizations are reimagining products and services for a new era of customer and employee engagement.