Michael Weeding

Australians wanting a clearer view of their spending and saving habits have a new digital ally, with the release of AMP’s Money Manager budgeting functionality in the My AMP app, available in both iPhone (iOS) and android devices.

Money Manager allows customers to connect and view all financial accounts in the one place – including those held with other financial institutions – and track where their money is going.

Users can quickly apply micro-budgets and categories to their transactions, such as income, hobbies, shopping and kids, to clearly see what areas of their life place the biggest demand on their cashflow.

Other functionality includes graphs and visual cues to highlight if a customer overspends on their set monthly budget.

The My AMP app budgeting functionality links to the more detailed online version of the Money Manager budgeting tool available through My AMP, which allows customers to create and track a detailed budget for a 12-month period, where the app focuses on your current spending patterns.

The new functionality interacts with, and dynamically updates, Money Manager online, allowing customers to monitor their finances in whatever way is most convenient for them at the time.

AMP’s Director of Digital and Design, Michael Weeding, says the development of the mobile functionality responds to customers’ desire to manage their finances how and when it suits them.

“Helping people explore, plan and track their goals is an important part of life we want to support our customers through with easy access to the tools they need, when they want them,” he said.

“AMP’s Money Manager offers an easy and intuitive way for customers to take a bird’s eye view of spending habits and how they might be affecting their ability to achieve their goals.”

Since the launch of the budgeting functionality within My AMP online last September, use of the tool has increased 50 per cent, with customers valuing its accessibility and quick snapshot view.

Money Manager is another important component of AMP’s goals-focused strategy to help customers explore, plan and track their goals; complementing AMP’s B3tter bank account, launched in 2016, and AMP Goals 360 advice experience.

The post My AMP app makes budgeting a breeze appeared first on AdviserVoice.

Michael Weeding

Customers of AMP’s Bett3r and My AMP wealth management apps can securely log-in to their accounts on Apple’s iPhone X using facial recognition technology.

The functionality follows early adoption of fingerprint log-in technology, which continues to be available on both apps for earlier model iPhone and Android devices.

Michael Weeding, AMP’s Director of Digital and Design said: “Face recognition ID further enhances the experience for those using Bett3r and My AMP.

“The apps have been specifically designed to provide customers with greater visibility of their finances and the ability to take control of their day-to-day, month-to-month spending and saving. The ultimate purpose of which is to help them achieve their financial goals.

“We’ll continue to provide digital experiences which are seamless, intuitive and secure,” said Mr Weeding.

The one of its kind Bett3r account incorporates three linked transaction accounts – Pay, Save and Spend – which help customers manage their cashflow and reward savings.

My AMP provides customers with a holistic view of their wealth, including super, insurance, investments and banking.

The post Face ID available to Bett3r and My AMP customers appeared first on AdviserVoice.

Michael Weeding

AMP Bank has become one of the first banks in the Asia Pacific to launch host card emulation (HCE) technology for mobile payments, marking a significant leap forward in tap and pay payments.

The technology, available for all Android users with a KitKat 4.4 or later operating system, means customers can make contactless payments up to $100 without a PIN by simply tapping their mobile phone.

Integrated into the AMP banking and wealth management app the function, to be known as AMPwave, means customers can make contactless payments while enabling near field communication (NFC).

AMP Director Digital Michael Weeding said the technology was a step forward in the way people undertake their everyday transactions.

“The need for simple and secure payment methods on the go is increasing. The HCE technology means people can turn their phone into a mobile wallet, without the need to carry cash or cards.

“This technology takes cardless payments a step further and ultimately makes banking simpler for customers, underpinning AMP’s strategy to become a more customer driven organisation.

“It’s important for us to be able to use technology to create a better way of banking for our customers,” Mr Weeding said.

The HCE technology will be available to AMP Bank customers with an AMP Visa Debit Card.

This development follows on from the launch of AMP Bank’s PayTag released late last year, which allows customers to make payments up to $100 via a sticker on the back of their mobile phone.

The post AMP Bank launches NFC driven mobile payments appeared first on AdviserVoice.