12 February 2016

WestPac NZ and Samsung team on digital banking innovation

20 May 2014  |  5789 views  |  0 Samsung and Westpac NZ sign collaboration agreement to develop digital

Westpac New Zealand has formed a partnership with tech giant Samsung that will see the two work together on developing digital banking innovations.

Under the deal, the firms will share knowledge and collaborate to develop banking tools that will be available on select Samsung devices such as smartphones, tablets, smartwatches and smart TVs.

As part of the agreement, Samsung will give Westpac early access to its smart devices so that the bank can develop financial applications and services that are ready to launch as soon as the kit goes on sale.

This close collaboration has already been put to use, with Westpac taking advantage of the Samsung Galaxy S5 handset's fingerprint sensor to test biometric mobile banking app logins.

The bank has also been experimenting with Sony smartwatches, Google Glass and in-branch Apple iBeacons in recent months.

WestPac hopes that the partnership will help its strategy of centering its entire operations around a new online banking platform which will let customers carry out all transactions digitally, without the need to visit a branch or call a contact centre.

Peter Clare, CEO, Westpac, says: "Being able to collaborate with Samsung and share knowledge and insights will help us deliver industry leading innovation that Samsung can take to the world."

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