The Frustrated State: How terrible tech policy is deterring digital Australia
Written by Delimiter's Renai LeMay, The Frustrated State will be the first in-depth book examining of how Australia’s political sector is systematically mismanaging technological change. Click here to help fund it on Kickstarter.
No Brother: Science fiction, martial arts & Australia's darkest city
Set in Australia's darkest city, No Brother is a vision of a future where martial arts discipline intersects with power, youth and radical technological change. It is the first novel by Delimiter's Renai LeMay. Click here to help fund it on Kickstarter.
Blog, Enterprise IT, Featured - Written by Renai LeMay on Friday, August 16, 2013 17:38 - 6 Comments
CommBank’s Kaching app:
A perfect IT/business alignment case study
blog When the Commmonwealth Bank of Australia first launched its ‘Kaching mobile, social and NFC payments system in October 2011, the service had plenty of naysayers. Some said Australians weren’t ready for mobile payments, some said that social networks such as Facebook weren’t good platforms to integrate banks with, while others mocked the bulky case which added NFC capabilities to the iPhone. Boy, how all those people must be grimacing now as they’re forced to eat their words. The bank revealed yesterday (see this article from ZDNet for the details) that a collossal amount of transactions had passed through Kaching since its inception:
“Its Kaching app/iPhone case/Facebook application has seen more than 1 million downloads across the Android and iOS platforms on which it is offered, and has handled over AU$9 billion in transactions.”
To my mind, what Kaching represents is the perfect example of what happens when technologists inside a business can achieve a wider mandate to drive business change through the use of technology. With the success of Kaching, CommBank chief information officer Michael Harte has not just supported CommBank’s business activities — he’s opened up a massive new line of business activity, and associated revenues and profits, in a way which IT managers and chief information officers normally aren’t able to. It’s also remarkable that a business as old as CommBank, and one generally considered to be slow-moving, has been able to generate such successful innovation.
If I was a technologist at Australia’s other banks, to say nothing of other financial institutions such as insurance firms (including medical insurance firms), superannuation companies and brokerages, I would be looking at CommBank’s success here very, very carefully. There are also lessons to be learnt for telcos, retailers, government departments and others. Suddenly, with the multi-billion-dollar success of Kaching, we’re not talking about pocket change. We’re talking about a massive new business worth $9 billion in revenue to the bank. Anyone who can replicate that success in innovating in transactions for mobile apps, even to the smallest degree, will probably find themselves on top of a very successful little venture indeed.
Kaching’s success also speaks very strongly to the idea that Australians are very rapid and early adopters of technology — when it’s the right technology. There really aren’t many examples internationally of mobile transaction businesses taking off. And, as I mentioned, there were plenty of naysayers for Kaching. But this CommBank example proves that when Australians see a good thing in technology, they grab on to it immediately. One does wonder what potential there is for the Commonwealth Bank to launch its model internationally. Because one thing we can say for sure now, is that mobile transactions in Australia, as a trend, is now more than an experiment. It’s real, massively real, and it’s here to stay. We may soon be able to get rid of those credit cards in our wallets after all.
Image credit: Commonwealth Bank of Australia
Leave a Comment
Blog, Enterprise IT - Jul 5, 2014 13:53 - 0 Comments
More In Enterprise IT
- Qld’s Grant joins analyst firm IBRS
- Westpac dumps desk phones for Samsung Android mobiles
- Ministers’ cloud approval lasted just a year
- WA Govt can’t fund school IT upgrades
- Turnbull outlines Govt ICT vision
Blog, Telecommunications - Jul 5, 2014 12:12 - 0 Comments
More In Telecommunications
- Telstra gets $150m for NBN FTTN trial
- How Australia got online 25 years ago
- Palmer pushes for minimalist NBN policy
- NBN debate heats up at IEEE conference
- Spirit deploys 200Mbps FTTB to Southbank
Analysis, Industry, Internet - Jun 23, 2014 10:33 - 0 Comments
More In Industry
- ABC tech reporter founds micro-transactions startup
- Australia’s got ICT talent: So how do we make the most of it?
- ‘Thriving’ Aussie tech incubator scene a ‘mirage’
- Corporate highs: The US P-TECH model for schools in Australia?
- Facebook wants to hide its Australian earnings
Blog, Digital Rights - Jun 30, 2014 22:24 - 0 Comments
More In Digital Rights
- “Rational debate” needed around surveillance
- Web blocking technically impossible: iiNet reminds Govt of undisputed fact
- We like e-readers – but library users are still borrowing books
- Coalition, Labor support new surveillance laws
- Anti-piracy laws will increase piracy, says Budde