Project Overview

St.George Banking Group was the first bank in Australia to provide customers with the ability to view an account balance without the need for customers to logon to mobile banking. MoneyMeter, available on iOS and Android Platforms, accumulated 53,000 unique registered users in less than 8 months and 12% of all balance enquiries are via MoneyMeter. St.George achieved success through taking an iterative approach to customer research, observation & social media feedback and applying these results. MoneyMeter is simple, easy to use and is built to help customers better manage and stay in control of their finances.

Organisation

St.George Banking Group

Team

Travis Tyler - Head of Mobile
Jay Chong - Senior Manager Consumer Mobile
Dean Nguyen - Manager Consumer Mobile

Project Brief

Smartphone users are seeking to do more on their phone – from searching and investigating new products, through to purchasing and using a product.

With this in mind, MoneyMeter was inspired by the potential to change what banking means to our customers – displaying what our customers deemed to be important to them without the need to log on to mobile banking and helping them with the ability to customize MoneyMeter for their individual needs. We wanted to make it easy for our customers to tell at a glance whether they have sufficient funds in their account before spending it.

The experience is the single most important driver in creating a memorable and lasting impression with our customers and hence from the feedback we received.

MoneyMeter was launched to iPhone customers in December 2012 and to Android customers in February 2013. Due to the popularity of MoneyMeter, in March 2013 St.George launched a MoneyMeter widget for Android (an Australian 1st).

Project Need

Innovation is innate in our brand with many Australians and world firsts. E.g. it is encouraged from top down and is evident through our integrated campaigns.

Our ongoing commitment to mobile innovation means that we will continue to offer more convenient ways to manage banking. This empowers our customers to choose the channel, time and device which suit them best. We provide a process and experience that is tailored and appropriate to each of these.

Innovation focuses on being simple and helpful. In this instance, we have made it easier of our customers to access their balance and assisting them to stay in control of their finances.

St.George Banking Group was the first bank to offer this feature in Australia.

User Experience

MoneyMeter is simple and easy to use (only takes a swipe from the iPhone app or a tap from Android app) and their account balance is updated in graphical representation every time without the need to logon to mobile banking. It is built to help customers better manage and stay in control of their finances.

MoneyMeter can be used for any two of their eligible Savings, Transaction or credit card accounts. The customer can choose one of five gauge designs to visually depict their balance using their chosen high or low points and can also choose to show/hide their available balance on screen.

MoneyMeter helps customers:
• Saves time by not having to go to a branch or ATM or log in to mobile banking to check their account balance
• Avoid overdrawn or other bank ATM fees by knowing their account balance at any given time
• Save – by knowing when their account reaches a certain amount, they can transfer money to a high interest savings account
• By avoiding embarrassing situations of not having necessary funds

Our success has been achieved by listening to our customers and by taking an iterative approach to design & development using direct customer research, observation and social media feedback to prioritise what we deliver and how we deliver it.

Project Marketing

With heightened integrated marketing efforts, we intended to increase customer adoption and download of our mobile banking apps.
10.7% of our customers have registered for MoneyMeter.

Since the launch in December 2012 there hasn’t been any cannibalisation of mobile banking stats such as logons or balance views. On average each customer is checking their balance 28 times each month which has increased by 35% since launch.

Our Net Promoter Score increased due to the introduction of MoneyMeter feature on the apps.

St.George has been voted No. 1 in mobile banking customer satisfaction when compared to other major banks in Australia (twice in a row) by RFi Research, Australian Mobility Banking Program (March 2013 and July 2013 survey results).

MoneyMeter has received great feedback and customer experience via social networks, apps store reviews and from the app itself:
“Current balance addition to online banking app is the best thing ever!! Well done!!"

" It's clear a lot of thought and use ability testing goes into this app. I like the new money gauge feature. Nice work!"

" I LOVE the money meter. What an awesome idea. Well done!!!!"

" Love the new swipe to view simple balances feature from home page"
"Really handy especially the widget"