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Big Push for iPhone Banking

Just noticed a new series of adverts for the UK's Natwest Bank and their new iPhone app:

Helpful iPhone Banking

The ads played heavily across the UK mainstream TV networks last week.

Very good.

Press release is available here, and more on mobile at Natwest …

NatWest Mobile

… meanwhile, download the iPhone app for free if interested.

This builds on their other recent launch of O2 Visacard powered by Natwest.

I would normally be congratulating the bank for doing this, as they're the first mainstream ads I've seen of this nature from a mainstream bank … except that it is interesting that Natwest start a major push into mobile banking and payments just as RBS, their parent firm, disbands their dedicated mobile strategy team.

Something strange afoot one wonders?

Equally, the fact that these ads are hard to find online – they're not on YouTube or in the main Google search results – means that Natwest have missed a trick to use social media to leverage this rollout.  And there also appears to be no direct communication to the customer about the new app, e.g. where's the ad on their homepage?

Nevertheless, as a first in my sphere of awareness in terms of advertising a core new banking service on the mobile, this a positive step forward.

Meanwhile, although this is a first in UK banking as a serious rollout from a bank, it's not the first iPhone app for banking with MoBank launching during the summer and, in the USA, Wells Fargo, PNC, HSBC and more rolling out iPhone apps recently.

Many more are expected.  According to NetBanker,
"each major bank will roll out dozens of apps, perhaps hundreds, to
support their business lines, major products and large segments."

Great stuff.

Just a bit of a shame that all I've got is a Nokia …


About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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  • Trevor LaFleche

    This is a very interesting development but I would credit First Direct with a “mobile banking” version of their internet banking platform that is pretty good and has been out for some time. As for MoBank I’m afraid I disagree with you that it is a “Banking Application” in any sense of the word. I would define Banking as engaging in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit etc. MoBank does not do that at all.

  • Trevor LaFleche

    This is a very interesting development but I would credit First Direct with a “mobile banking” version of their internet banking platform that is pretty good and has been out for some time. As for MoBank I’m afraid I disagree with you that it is a “Banking Application” in any sense of the word. I would define Banking as engaging in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit etc. MoBank does not do that at all.

  • Chris Skinner

    Hey Trevor
    Yep, First Direct has been a first mover but not in a mainstream bank push of an iPhone app but more as a niche push.
    MoBank – you’re right. Not a full banking app today … but intends/wants to be in the future.
    Chris

  • Chris Skinner

    Hey Trevor
    Yep, First Direct has been a first mover but not in a mainstream bank push of an iPhone app but more as a niche push.
    MoBank – you’re right. Not a full banking app today … but intends/wants to be in the future.
    Chris

  • Chris Skinner

    Hey Trevor
    Yep, First Direct has been a first mover but not in a mainstream bank push of an iPhone app but more as a niche push.
    MoBank – you’re right. Not a full banking app today … but intends/wants to be in the future.
    Chris

  • Topher Knowles

    I don’t think this is part of any big mobile banking strategy on Natwest’s part, it’s an app that has been developed by a third party and seemingly rushed out… I will be surprised if we see any updates that improve this app for a long time (if ever).

  • Topher Knowles

    I don’t think this is part of any big mobile banking strategy on Natwest’s part, it’s an app that has been developed by a third party and seemingly rushed out… I will be surprised if we see any updates that improve this app for a long time (if ever).

  • This program is really flawed for business use as it does not allow access to deposit accounts and therefore gives no balance or overdraft status. Most businesses have a clearing account from their current to deposit account each day so that they can earn interest on their money. Natwest and RBS require an associated bank card for the account setup which they do not provide on deposit accounts.

  • This program is really flawed for business use as it does not allow access to deposit accounts and therefore gives no balance or overdraft status. Most businesses have a clearing account from their current to deposit account each day so that they can earn interest on their money. Natwest and RBS require an associated bank card for the account setup which they do not provide on deposit accounts.