Innovation Down Under: Mobile Banking for Corporate Cash Management

by Mercator Advisory Group 0

Corporate treasurers who are customers of the Australia and New Zealand Banking Group (ANZ) will have new mobile functionality if they wish it, as the bank launches new mobile services in partnership with New Hampshire-based Bottomline Technologies and Australian firm Odecee. Bottomline Technologies already provides the global cash management platform, and Odecee has implemented the “mobilization” of selected functions of the cash management application in iPad and iPhone environments.

According to an ANZ press release:
“As part of the continuous investment in ANZ Transactive, ANZ recognised that consumer reliance on mobile technology was having a direct influence on the corporate use of mobile devices and tablets for activities such as payments and authorisation. ANZ Transactive – Mobile has been designed to seamlessly integrate with and act as an extension of the ANZ Transactive online solution (powered by WebSeries®, Bottomline’s leading global cash management platform and Velocedee’s mobile channel interface), which allows ANZ clients to seamlessly make cross-border payments between Australia and New Zealand.”

The initial rollout of functions for mobile planned for Q4 this year includes the ability to review balances and recent transactions, as well as the second signature capability to approve the release of payment transactions entered by others. More functions are planned for future releases. At least initially, the application is restricted to Apple devices, but other operating environments will be supported in the future. This announcement is one more indicator that the adoption of mobile devices by individuals continues to penetrate their working lives, and vendors are responding to their wishes.

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