Non-major unveils enhanced digital offering

by Madelin Tomelty30 Nov 2016
Following an announcement that it recently made Apple Pay and Android Pay available to its Australian customers, MyState Limited has launched a new internet banking platform and mobile banking app.
The new technology offering continues the national mortgage lender’s strong run of digital enhancements, with the online banking platform aiming to make managing money on the go simpler, more convenient and more secure.
The online banking overhaul is the result of a partnership that began in May between MyState and Rubik Financial Limited, a technology company delivering innovative banking, wealth and lending solutions to the financial services industry.
Rubik’s technology allows MyState customers a superior digital experience, including access to MyState’s banking products and services from the device of their choice (desktop, smartphone or tablet) via the operating system of their choice, and at the time of their choice.
Bruce Emery, Group Executive Banking at Rubik, told Australian Broker: “Consumers expect more from their banks and credit unions than ever before …  If they don’t deliver and consumers’ mobile banking experience doesn’t meet their demands, they're likely switch off.  By adopting the latest technology in digital mobile banking MyState will ensure they continue to not only meet, but hopefully, exceed their customers’ expectations.”
Another major step in MyState’s ongoing digital transformation, the Tasmanian-heralding bank’s new mobile banking app offers speedy and convenient free online loan redraws and a ‘Balance Peek’ option which gives customers the ability to check their mortgage balance after swiping on their phone screen, without actually logging on.
Logging on is also quicker and easier with the optional four-digit log-on PINs. When mobile banking app users want to log-out all they need do is shake their phone or turn the screen down.
MyState Head of Broker Paul Herbert said investment in the bank’s digital transformation and broker distribution network were key parts of MyState’s organic growth strategy.

"MyState’s investment in its digital transformation, as well as its branch and broker distribution network, will benefit our mortgage broker partners and their customers tremendously," he told Australian Broker.
"We know that brokers look at more than just the price and on-boarding experience when choosing a mortgage solution for their customers. For them, the post-settlement experience is just as important as the settlement itself.

"Knowing that their customers will be able to deal with us anyway they choose, whether it be through our Australia-based contact centre, an easy to use Internet banking platform or the ease of Apple Pay, helps them more confidently recommend MyState as a mortgage supplier and grow their own business,” Hubert told Australian Broker.

With the enhanced MyState online and mobile banking platform we now have one of the most competitive and modern Internet banking offerings in Australia,” he said.
The enhancements will offer customers stronger security across all aspects of Internet banking, including two-factor SMS authentication.
The platforms also introduce a range of features that would mean offering MyState customers baking solutions, without having to go into a branch. These include:
• The ability to reset passwords directly online;
• The ability to redraw mortgage balances online and access electronic statements;
• The ability to change PIN numbers online, to cancel a card online or update personal details.