ASB, ANZ add to business tech services

  • Technology
  • December 17, 2013
  • StopPress Team
ASB, ANZ add to business tech services

ASB and ANZ are the latest banks to add to their portfolio of technology-based services for businesses, with ANZ joining the group offering a mobile payments app and ASB developing a service to streamline the accounts receivable process.

ASB's Integrated Receivables service is based on a new partnership with Australian-headquartered IP Payments, which also has offices in Auckland and the UK.

The service, when launched, will allow businesses to create invoices, receive, reconcile and collect payments and manage disputes, says ASB executive general manager of technology and innovation, Russell Jones.

"Businesses now have to manage payments from a variety of channels including via the post, online or mobile banking. Centralising the management of invoices and receivables will make payments much easier to manage and process," Jones says.

The bank hopes to reduce business' paper and staff costs and improve their cashflow, says Jones.

ASB plans to release Integrated Receivables next April, adding to its other business services including PayHere, FastNet Business, its Mobile Business app and a partnership with cloud accounting software company Xero.

ANZ's free iOS and Android Fast Pay app lets businesses make credit debit card transactions. ANZ charges merchants a three percent transaction fee, with a minimum monthly charge of $15.

The app took four months to develop, with the iOS version developed in house and the Android app made in partnership with another company that the bank didn't name.

Several banks have added apps and digital services in recent months. Earlier this year Westpac partnered with Wellington company Silverstripe to transform its digital banking platform, while Home Hunter was among the new apps from Kiwibank last month.

ASB released its new business app in October, while ANZ had secured 117,000 downloads for its goMoney app by September.

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