Analysis of the spending habits of Bankwest’s customers has reinforced the reputation of Australians as being among the world’s quickest adopters of new technologies.
In 2018 those customers with both a Bankwest Debit Mastercard® and a Bankwest Halo ring used the ring for more than a quarter (28%) of all their purchases.*
Bankwest Executive General Manager, Customer Solutions and Insights, Pieter Vorster, said he was delighted with how customers have responded to the ring, which celebrated its first birthday last week.
“The speed at which using the Bankwest Halo has become the norm for so many of our customers shows how flexible Australians are in the manner in which they want to be able to pay for their goods and services.
“The popularity of the Bankwest Halo, coupled with the 88 per cent increase in logins to our mobile app that we’ve seen over the last three years, clearly shows how Australians are adapting to today’s digital landscape with some of the highest adoption rates in the developed world,” he said.
And it seems the ultra-convenient Bankwest Halo ring proved a boon for busy Christmas shoppers with payments made on the ring accounting over a third (38 per cent) of all debit transactions made by Bankwest customers* in December.
Pieter said there were clear patterns in the customer experience and usage of the Bankwest Halo.
“When the ring first arrives in the post it seems, perhaps understandably, the customer is a little wary and will test the waters by buying a few low-value items at first.
“But, after a few days, they’re getting used to it and the value of the transactions they make go up and soon it becomes their main method of paying at the till,” he said.
In response to the rapidly-changing consumer demands in Australia Bankwest has undergone a transformation to a new, agile way of working in a drive to more swiftly meet customers’ expectations.
“We’ve also made conscious moves to ensure everything we’re doing not only has the customer at its heart but is also data-driven and insight-led. And as we tap into the potential of using this wealth of data, we’re constantly looking for new opportunities to innovate our digital channels, to make it simple and easy for customers to bank with us,” said Pieter.
An example of this innovation is Bankwest’s adoption of the Apple Pay platform this week, offering customers yet more ways to pay, combining convenience and choice.
By focusing on digital innovation, coupled with our deep insights into consumer habits, Bankwest is aiming to bring increasingly seamless, world-class banking experiences to our customers.
* refers to purchases made by customers with both a Bankwest Debit Mastercard and a Bankwest Halo, in person on EFTPOS machines via a Bankwest debit Mastercard or a Bankwest Halo ring linked to a transactional account. alo.Halo
Bankwest provides personal and business banking solutions for more than 1.1 million retail and business customers across Australia. Bankwest customers enjoy access to an extensive network of stores and business centres, direct and third party distribution channels, agencies and electronic banking facilities, as well as 24-hour telephone and internet banking. Bankwest is a division of the Commonwealth Bank of Australia.