28 November, 2013

Westpac delivers digital double for SMEs

Westpac has released a digital double for New Zealand’s small-medium businesses (SMEs) providing practical support in two key areas that are critical to business success - cashflow management and customer experience.

Get Paid is a mobile payments app that enables payments to be taken over a smart phone (both Android and Apple devices) or via an email link that takes the customer directly to a secure payments webpage. It requires no extra hardware or plug in device and is free for businesses to download (pay as you go). It gives businesses, particularly those that are mobile, faster collection of payments. More than 500 SMEs have already signed up for the app which is now live and will be integrated into Westpac’s new online platform early next year.

Through the Get Feedback app, SME's can capture and analyse their customer feedback and build better engagement. They will be able to track, in real time, how customers feel about the service they offer, manage customer interactions and receive valuable verbatim feedback. They are also able to post feedback in the social media channels they use. 

Get Feedback gives SME’s access to the kind of tools that until now have mainly been in the hands of larger business and which have helped organisations, including Westpac, significantly improve customer experience, growth and retention. Westpac sees huge opportunity in helping SMEs drive their customer experience and this initiative is the first of its kind for a bank in New Zealand and Australia.

General Manager Business Bank and Wealth, Simon Power, said Westpac is intent on delivering practical and easy to use solutions for time and resource constrained SMEs.

“Businesses need customers to grow and these initiatives are about supporting small and medium size businesses in a practical way. Often, they can be stretched for time and have multiple tasks vying for their attention. These two digital developments are easy to use and could be very useful in helping a business grow,” Mr Power said.

"Feedback is a vital component in the success of any business. If you are not listening to your customers and learning from what they have to say about you it’s like rowing with one oar. You're going nowhere."

"The modern consumer is digitally connected and readily seeks and gives views and opinions via social media. Get Feedback can help SMEs maximise the opportunities in this space and understand the aspects of their business, from a customer's point of view, that are important to growing their business.”

“Get Paid is now live and customers can pre-register for Get Feedback through the Westpac website.”

Get Paid and Get Feedback are the latest digital initiatives from Westpac as it continues working towards its goal of delivering the best digital banking experience in New Zealand. They follow the second release (first to external customers) of its new fully responsive online banking platform, the recent introduction of ‘live chat’ on the website where customers can ask for and receive help or apply for a loan in real time, the children’s budget app - Cash Critter – which has been downloaded more than 3000 times in just a few weeks and two of the winning entries in the bank’s crowdsourcing competition which are scheduled for release early in the new year.

“We understand banking is changing, that customers are connected 24/7 and their needs and behaviours are evolving rapidly. It’s exciting, and we have a strong and progressive digital and mobile programme to roll out”, Mr Power said.

See how Get Paid works via this link: www.westpac.co.nz/getpaid

 Key Facts - Get Feedback

  • The first of its kind for a bank in New Zealand and Australia
  • All customers can have access to Get Feedback for 30 days. Up to 10,000 Westpac business customers get up to 12 months free access to Get Feedback.
  • Customer feedback can be sought and shared via the SME’s own website and via social media
  • SMEs will be able to track their customers' satisfaction levels, interaction scores and verbatim feedback via an online dashboard.

 Key Facts - Get Paid

  • Real time payment processing
  • No need for extra hardware or plug-in devices
  • The send a payment request feature allows businesses to email their customers a payment request with options on how to pay (via a secure hosted payments page, by direct credit, or via phone using their credit card)
  • Up to five users can use Get Paid under the same approved merchant account
  • No monthly minimum fee or fixed term contract making Get Paid a cost effective payments solution (pay as you go).