The mobile banking application called SmartBank will be afree application which provides a comprehensive, clear and easy method forconsumers to understand their current financial situation. Some of the featuresinclude interactive spending graphics, weekly and monthly spending patterns andcategorized transactions.
In addition to the personal finance management tools, theapplication will provide direct access to information about SantanderUniversities, including the financial support that the bank provides forscholarships, work internships and awards. Commenting on the announcement, BenGreen, Head of Innovation, Santander UK said: “We know our customers areincreasingly looking to bank and pay on the move, so it is important for us tothink creatively about how we can develop an insightful, useful andpersonalized service for them. SmartBank acts as a true financial companion,providing our customers with an engaging and tailored experience at a time andplace that’s right for them.”
With consumers increasingly demanding innovate mobilebanking applications; the new application powered by Monitise demonstrates thatapplications can be tailored to meet specific demographics successfully andprovide value to banking demographic that represents long term profitability.
Overview by Tristan Hugo-Webb, Associate Director, International Advisory Service for Mercator Advisory Group
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