20 December 2018
Beat the Big Four - on a Fraction of the Budget
Adelaide. December 20, 2018: A recent report published by banking tech provider DA and digital agency Fusion has concluded that despite having modest budgets compared to the Big Four banks, Australia’s credit unions and mutual banks are able to have the same depth of features in their mobile banking offering. The key to success? Collaboration.
An in-depth review of over 20 mobile banking apps across Australia found the DA+Fusion mobile banking app is at parity or better than those developed by the Big Four. The DA+Fusion app is used by over 15 mutual organisations across Australia, including six of the biggest: Bank Australia, Beyond Bank Australia, Defence Bank, People’s Choice Credit Union, P&N Bank and Queensland Country Credit Union.
Dubbed the ‘Sizable Six’, these mutual organisations influence the roadmap of the DA+Fusion mobile banking app through strategy sessions and regular sprints. “It’s great to have collaborative input from such a wide range of organisations” said Brett Miller, Chief Technical Officer at DA. “It means that everyone’s voice is heard and every organisation, no matter how small, benefits from collective strength.
The results of the Mobilising Mutuals report came as no surprise to Joff Stevens, Executive Manager – Strategic Marketing of Qudos Bank, following the bank’s upgrade to the latest version of the app. “Our mobile app usage has increased significantly since we migrated to the new DA+Fusion app and we’ve seen the ratings on the app stores increase from an average of 1 star to approximately 4 stars”
The innovations that the DA+Fusion mobile banking app have brought to the marketplace include must-haves like Apple Pay, giving customers the ability to apply for banking products in-app, as well as an Australian first: the ability for customers to receive an in-app ‘virtual card’ and start transacting instantly, before receiving a physical version.
Damien Mair, director of Fusion said that these innovations are the reasons behind the app’s success. “Our client Beyond Bank Australia has won the Canstar award for Customer Owned Bank of the Year – Mobile Banking three years running with our app.” he said. “That doesn’t just happen - it’s a testament to the hard work we’ve put into creating features that provide members with a superior digital banking experience.”
The DA+Fusion mobile banking app provides a feature-rich customer experience for customers of mutuals across the nation. To find out more about the app and how it can benefit your customers read Mobilising Mutuals Here
*Qudos Bank is a client of DA and Fusion and uses the DA+Fusion mobile banking app.
For further information, please contact: Sandra Renowden, WPP AUNZ on +61 403 823 218
DA started out in 1986 as core banking system provider for Credit Unions. With 82 implementations successfully completed, we can rightly claim to be a market leader. Since then, we’ve added a rich set of APIs that enable seamless 3rd party integration into our core, and digital products. Most of our clients have been with us for over 10 years, and many for 30 years. Why? Because we collaborate with our mutual banking clients to help them innovate and deliver award winning products to their customers
At Fusion, we’re passionate about designing digital experiences that grow with our clients. With 20+ years of working in financial services, we have deep expertise to help you design and optimise your digital presence. Our ‘value sprint’ methodology aids your ongoing aim of increasing brand loyalty and product acquisition rates. We combine proven methods with the latest technological advancements to create bankable digital experiences that users and organisations love.