24 May 2017
Friso De Jong

E-invoicing eye-openers

Friso De Jong - EEI Platform

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Innovation in Financial Services

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

Bank app takes e-invoicing to another level

23 March 2011  |  3956 views  |  1

Danske Bank just made it easier to spend money and pay your bill. Their customers can now pay bills with just a photo of their bill and a tap on their iPhone screen. Making online payments a lot easier. Even easier than NFC chips (as these chips won't be attached to paper bills).

This enticing app from Danske Bank's is now available for iPhone, iPad, iPod touch and Android devices. This is how it works: (1) installed the app, (2) launch the app, (3) snap a photo of the bill you wish to pay (4) press a confirmation button. That way the app uses OCR to rapidly enter the details for a bill or electronic funds transfer, like: the amount due, payee name and account numbers, without forcing users to key in the information by hand.

This app is the latest in a series to find innovative uses for the cameras and processing capabilities found in mobile devices. Other financial institutions that provide similar apps are PayPal and Chase Bank.

Interestingly enough the option to pay bills by photograph is enabled for clients of competing banks even though most of the app's features are custom built for Danske Bank's customers. Similars apps are available for Android Phones.

Comments: (2)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 24 March, 2011, 19:29

For some reason that I've never understood, billers in many countries (USA, UK, India) don't provide their bank account details in their bills, which poses a big challenge for apps of this nature. Besides, even where billers (ex: Germany) do provide this information on their bills, the less than 100% accuracy found in OCR consumer apps adds to the challenge. If only billers would provide this information and in the form of a barcode / QR Code that can be scanned by a mobile app accurately, that'd make life easy for customers to pay their bills. 

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Friso De Jong
Friso De Jong - EEI Platform - Amsterdam | 24 March, 2011, 21:45

Starbucks uses iPhone payment with barcode scanning. Payments using this method accounted for 22% of all payments, within a year:


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