Asia United Bank (AUB), one of the country’s most innovative banks, is taking customers’ Internet banking experience to a whole new level with the launch of a mobile application for faster and more convenient banking transactions.
The mobile app brings the AUB online banking experience to mobile devices such as smartphones and tablets, allowing users the cutting-edge way to transact and interact with the bank with just a few taps on their keypads. Initially, the bank is offering the mobile app to iPhone users, but will soon roll out an Android version for other smartphones.
This latest banking innovation allows AUB, a 15-year-old bank, to ride on the country’s growing reputation as the fastest-growing market for smartphones in Southeast Asia. According to Singapore-based research firm GfK, the Philippines posted a staggering 326-percent increase in smartphone sales over the last 12 months – the highest jump in smartphone market share among its neighboring countries in the region.
“This trend is paving the way for local banks to enter what is being considered ‘the next wave of the future in banking’ where a rapidly growing number of activities can now be done via a mobile phone as it saves the customer from going to the branch and having to wait in line. Asia United Bank is one of the earliest to offer this 21st-century banking experience to the Philippine market,” said Wilfredo Rodriguez, AUB first vice president and head of IT.
While the mobile app also offers standard features such as allowing users to check account balances and view their transaction history, AUB also brought its unique offerings such as viewing the image of checks issued and monthly statements that can also be downloaded from the mobile device.
Another “first” in local mobile banking is the branch locator that enables the user to locate and call the nearest AUB branches with just a click. This feature is also available to AUB’s clients abroad who can locate and contact the bank’s foreign partners for remittance services.
The mobile app also brings AUB closer to its customers through the notification and messaging feature. Using iPhone’s push notification and alert feature, mobile app users can send and receive important messages from AUB and its 108 branches.
To ensure security, Mr. Rodriguez said a user only needs to log in with a username and password similar to AUB’s online banking requirements.
“We are taking the same precaution to ensure the security of our users by requiring the use of a security token, which randomly generates a one-time password that only the authorized user (or the owner of the token) can use for online transactions,” he added.
However, unlike in other local banks, AUB customers do not need to go to a branch to enroll their mobile device. To get the mobile app, all they need is to go to the Apple iTunes store and download. One-time registration is needed to avail of the mobile banking feature of the app.