Westpac has entered into exclusive New Zealand partnership with New York-based financial services start-up Moven to launch a series of new mobile initiatives.
Under the deal, Moven’s mobile money management tool will be integrated into Westpac’s new internet banking platform in October.
The integration will help Westpac customers manage their money day-to-day on their smartphone, tablet, or desktop.
In addition, they can compare their average spend against their actual spend for a month through a graph that uses colors such as red, yellow and green to show the difference.
The integrated system will also provide customers with regular feedbacks and money management decisions.
Westpac chief digital officer Simon Pomeroy said Moven’s approach to banking in the digital age was aligned with Westpac’s own strategy and objectives.
"Like so many other sectors, banking is changing rapidly because of consumer uptake of new technology. Partnering with Moven to provide our customers access to new tools and features for managing their money is another step toward our goal of being the No.1 digital bank in New Zealand," Pomeroy said.