Natwest iPhone app
According to the Metro, Natwest has recently released an iPhone application.
At first glance and without having tested it myself (as I don’t bank with Natwest), it looks destined for success. The first point to stress is that the app is free, which comes as a pleasant surprise as it is a new service offered by the bank. iPhone users won’t question whether the app is good value for money as they can easily try it out at no cost and discard it if not satisfied. In terms of the functionality, the app gives users access to a light version of their online banking. Users log into their account via a simple and hassle-free password protection (that they create when they set up the app) and don’t have to remember 15 digits long membership numbers or bring along bulky card readers. Once into their account, users merely have the ability to perform passive tasks such as checking their balance, consulting their statements, setting up SMS alerts, etc. Critical tasks such as making payments or transferring money are not supported by the app because of obvious identification and security concerns. But that is not really an issue as users are unlikely to be willing to perform these tasks while on the go, unless they are very urgent.
The app raises two important points. First of all, Natwest officially joined the world of mobile banking by releasing this iPhone app. This is not only positive in terms of brand image but is also strategic: by doing so, Natwest catches up with the likes of Barclays as a leading mobile bank in the UK. Online banking was a breakthrough, mobile banking is another one and Natwest has jumped on the bandwagon. Secondly, this app seems to address an increasing customer demand for passive access to bank accounts. This will undoubtedly please Natwest iPhone customers.
However, even if an iPhone app is a good start, work remains to be done to create apps compatible with mobile operating systems other than iPhone OS, such as Symbian or Android. Moreover, apps are specific task-based services and do not yet replace mobile websites. Next on the list for Natwest should then be the release of a .mobi version of their website, just like Barclays did with theirs.
This post was originally posted by Xavier Klingenfus
Comments
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C, AustraliaIt also raises other interesting points – can the iPhone lead to a new way of accessing the internet? With facebook, internet banking (my bank also has an iphone app which I am still building confidence in) and google, I am quickly considering ditching my personal laptop, and soon after my home phone line (which I only purchased so I could have ADSL). The world is becoming increasingly mobile.
Releasing on iPhone first is an interesting move. While a popular tool, it is also the first to be targeted in the latest rounds of identity theft. Jailbroken iPhones in Australia stole banking information when Commonwealth Bank released it’s iPhone app. That kind of impact on reputation/sense of security is a risk that can cause damage setting the mobile banking back by years until confidence is restored.
My thoughts, at least!
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Xavier KlingenfusThanks for your comment, I agree with you. The iPhone and more generally smartphones or Internet enabled handheld devices are leading the way to a new medium that is the mobile Internet. Not only is the access to it different, but also the type of content that is sought, which in my opinion, is much more task-driven and specific.
However, here are a few reasons why I think you shouldn’t ditch your laptop:
- screen real estate: small handheld devices do not yet replace the laptop experience. Watching a movie on your iPhone is fine if you are in a plane, but not so much if you are at home.
- computing power and speed: smartphones are not yet as powerful nor as fast as laptops. For instance, the wifi (not to mention the 3G) is still slower on iPhones than on laptops.
- user needs: without entering into too much detail, there are still loads of activities you wouldnt want to do on you iPhone. For instance, researching for the best product to buy, creating Word or Excel files, showing your latest vacation pictures to your friends, etc…You also need to keep your laptop to manage iTunes
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Laura Young…”work remains to be done to create apps compatible with mobile operating systems other than iPhone OS, such as Symbian or Android” http://www.natwest.com/mobile – Mobile Banking Java app launched back in 2007.
Loz
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Michael PetersThis 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.
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Oliver MahoneyIts an interesting idea, and i really like it!
I’ve gone away and developed a mobile banking app which works for barclays personal account holders, i guess it’s pretty similar to these. -
SimonThe Bank Control for Android supports NatWest, RBS, Lloyds, HSBC and Santander. It also supports payments, tagging, alerts, predicted interest on cards, etc. Free.
