Westpac, Samsung collaborate to develop banking technologies

Westpac New Zealand and Samsung Electronics have reached an agreement to develop digital banking technologies, leveraging expertise and knowledge of each-other.

Westpac New Zealand and Samsung Electronics have reached an agreement to develop digital banking technologies, leveraging expertise and knowledge of each-other.

As per terms of the strategic partnership, Samsung will provide Westpac early access to its smart devices such as tablets, smartphone, finger scanner and smart TVs.

The move will allow the lender to collaborate with Samsung and develop financial applications and services, which will be ready before the devices are available for purchase.

This will also benefit Westpac’s digital strategy, which will feature an online banking platform that is scheduled to be rolled out to customers by the end of 2014.

Westpac New Zealand CEO Peter Clare said once complete, their fully responsive online banking platform will deliver all banking capability online that currently requires the customer to visit a branch or call their contact centre.

"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," Clare added.