Bankwest’s contactless payment ring – the Bankwest Halo – has won two awards at this year’s RFI Australian Retail Banking Awards in Sydney.
The device - Australia’s first payment ring – was launched in January 2018 and last was named the Most Innovative Card Product and the Most Innovative Retail Banking Product.
Bankwest Managing Director Rowan Munchenberg said the awards were testimony to the hard work of the Bankwest Halo team in responding to evolving customer needs.
“Our customers’ needs are always changing and in today’s digital world they increasingly expect smooth transactions that fit with their lifestyles, whether shopping online or in person.”
“We’re delighted with how well the ring is being received by many of our customers, who love the convenience it offers.
The ring, which is waterproof to 50m, was developed as part of Bankwest’s focus on empowering customers with new and innovative ways to pay.
Last year Bankwest trialled a choice of wearable devices for colleagues and customers to use in their everyday lives. The trial and the feedback obtained, led to the release of the Bankwest Halo.
Executive General Manager, Technology and Transformation Andy Weir said Bankwest’s adoption of new ways of working was crucial to bringing the ring to market swiftly.
“The successful roll out of the ring was only possible through Bankwest’s new customer-obsessed, agile approach to working. Colleagues with skills in design thinking, software engineering, product development and marketing have worked collaboratively in a multi-disciplinary team to bring this experience rapidly to market.
“We’re leveraging new technologies and new ways of working to meet rapidly changing customer needs and we’re transforming into an environment with the very best technology, design and creative professionals, who think and act differently. And it’s great to see our new approach winning these prestigious awards,” he added.
Bankwest General Manager, Payments and Partnerships Peter Bouhlas said: “Team practices included daily stand-up meetings which involved representatives from key areas such as legal, compliance and technology to provide in-the-moment feedback to ensure Bankwest maintained a robust approach to risk management during the initiative.”
The Bankwest Halo payment ring links to a customer’s Bankwest transaction account and works just like a contactless payment card. A convenient alternative to your card, cash or phone, the ring means funds are immediately on hand. The ring also has the same security as a Bankwest MastercardTM, with 24/7 fraud protection.
Notes to the editors:
- The Bankwest Halo is available to customers with an eligible transactional account for $39
- Customers can order the ring on the Bankwest website, through the Bankwest app or in store
- The ring comes in two colours options, is individually sized and is non-transferable.
Bankwest provides personal and business banking solutions for more than 1.1 million retail and business customers across Australia. Bankwest customers enjoy access to an extensive network of stores and business centres, direct and third party distribution channels, agencies and electronic banking facilities, as well as 24-hour telephone and internet banking. Bankwest is a division of the Commonwealth Bank of Australia.