cba banks on mobile apps

MOT company announcement on 18th November that Cbox have contracts with two of Australia's major banks to provide messaging services.

CBA are acknowledged in the following article, as the market leader in terms of technology development in banking within Australia.

I wonder if MOT have been involved in the development of mobile apps for CBA?

Could be very interesting to find out don't you think?

Article in todays Age newspaper:

http://www.theage.com.au/business/cba-banks-on-mobile-apps-20110314-1btfr.html

Smart phones are transforming the way people bank, with an increasing number of customers accessing their accounts and making payments on their mobiles, the Commonwealth Bank says.

Fourteen per cent of log-ins to the group?s internet banking operations, NetBank, are now undertaken on mobiles such as the iPhone and the number is growing almost on a daily basis.

CommBank, which is acknowledged by its big four rivals as the industry leader in technological developments, has also recently launched a iPhone property guide app to help boost its retail banking home loan business.

Advertisement: Story continues below In an investor update on the progress of its $1.1 billion four year IT modernisation project, the bank ? which is the country?s biggest lender ? said that the new property guide had exceeded its initial expectations and that as a result further apps and mobile capabilities were being developed for launch.

However, there was no mention in the 58-page ASX announcement about the ATM failure earlier this month in which its cash machines were accidentally placed in ?stand-by mode?.

This allowed customers to take out more money than their account limits and led to a warning from both the police and the bank that anyone who deliberately accessed extra cash or didn?t return what didn?t belong to them would be prosecuted for theft.

The bank insisted this morning that the incident had nothing to do with the major revamp of its IT systems and has to date refused to disclose how much money was taken out or hasn?t been returned.

Today?s update coincides with the halfway stage of the modernisation program which has resulted in 10 million retail customer transaction and deposit accounts being migrated to the new computer system.

A further 1.2 million longer-term deposit accounts have also been moved, while this year business banking deposit and transaction accounts will be switched over.

The immediate impact has been to allow people to undertake ?real time? banking, which sees transaction and account information updated within seconds. CommBank highlighted the point that the it dealt with 650 transactions a second during the Christmas peak period without any problems.

The bank said today it was on target to complete its IT makeover by the middle of next year.