Commonwealth Bank Indonesia Launches First-of-its-Kind mBanking Application in Indonesia on Tagit’s Mobility Platform

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The new mobile banking application by Commonwealth Bank Indonesia is the first of its kind in Indonesia with respect to a host of new functionalities.

Tagit, a leader in inspiring and integrating enterprise mobility for end-to-end consumer applications, is proud to announce that Commonwealth Bank Indonesia has announced the launch of a mobile banking application with breakthrough technological, investment and security features. Commonwealth Bank’s Mobile Banking Application provides anytime, anywhere control over financial transactions, safeguarded by a top security system.

“We’re pleased to respond to the growing demand for a single mobile banking application that customers can use for all their banking activities,” said Commonwealth Bank Indonesia President Director Tony Costa.

“Our commitment to delivering comprehensive digital financial services in one mobile banking application underscores one of our strong and core beliefs; that new technology is a crucial need for our customers to help them to best manage their financial lives” add Tony.

The new mobile banking application by Commonwealth Bank Indonesia is the first of its kind in Indonesia with respect to a host of new functionalities: It is the first to offer customers the option to transfer money to any bank in Indonesia and to any bank in the world, the first to do funds transfer without having to pre-register beneficiary account, the first with ability to open time deposit account, the first to buy/sell foreign currency, the first to purchase mutual funds, and also the first to see mutual funds portfolio value.

Customers will also benefit from the largest mobile banking transaction limit of IDR200million/day, together with the highest security authentication process using a special security token device.

The new mobile banking application combines all key functionalities from account enquiry like account movement details and investment portfolio details. With the internal and external transfer of accounts within Commonwealth Bank Indonesia and across other banks, it offers transactions like remittances, term deposits, or investments on mutual funds right on the mobile. The new mobile banking application is currently available on iPhone and Blackberry.

"This new mobile banking application will change the way how people in Indonesia will experience banking”, predicts Navtej Singh (“Naffi”), CEO & Co-Founder of Tagit. “Built on our state-of-the art Mobility Middleware Platform and leveraging our experience in the banking domain, the new banking application is undoubtedly one-of-its-kind – and it will surely excite users.”

Tagit seamlessly integrates and leverages the existing business of enterprises and organizations into the mobile universe and creates innovative mobile experiences for end customers to increase market reach, speed up time-to-market, reduce complexities and protect existing investments.

For more information about the new mobile banking application of Commonwealth Bank, visit: http://www.commbank.co.id

For more information on how Tagit can inspire your mobile business, visit http://www.tagitmobile.com

About Commonwealth Bank Indonesia
Commonwealth Bank (PT Bank Commonwealth) is a subsidiary company of Commonwealth Bank of Australia (CBA) in Indonesia, the biggest public financial institution in Australia, which has been established in Indonesia since 1997. With more than 1,700 professionals in banking, Commonwealth Bank today is serving the customers through 85 branches and offices in more than 26 cities in Indonesia, including Sumatera, Java, Kalimantan, Bali, and Sulawesi.

Commonwealth Bank offers a captivate varieties of banking products, such as saving, term deposit, wealth management, bancassurance, small medium enterprise loan, as well as Internet Banking for companies or individual, Safe Deposit Box (SDB) and Call Centre.

Within the last 12 month, Commonwealth Bank has launched bill payment services and access to the Prima and Bersama network providing customers with greater flexibility, access and convenience. Commonwealth Bank’s customers can now enjoy the comfort of shopping in more than 80,000 merchants through BCA Debit/Prima and Maestro’ network and transact freely through more than 34,000 ATM’s network with ATM Prima/BCA in Indonesia. The Internet Banking services can also be enjoyed with 50% discount for mutual funds purchase and free transfer among banks.

About Tagit:
Tagit is a leader in inspiring and integrating enterprise mobility for end-to-end consumer applications. Founded in 2004, Tagit has a successful track record in designing, developing and deploying industry-specific mobile applications for market leaders such as Citibank India, Standard Chartered Bank, Singapore Airlines, BIG Cinemas, DBS Bank, and Commercialbank of Qatar. Millions of people across the globe use Tagit´s applications every day.

Tagit provides a comprehensive set of industry-specific, pre-built mobility applications developed on a state-of-the-art mobility middleware platform with standardized, in-built adaptors to backend and 3rd party systems such as payment gateways and social media networks.

Headquartered in Singapore, Tagit partners with global technology leaders like Sybase 365 to ensure the mobility of any device.

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Navtej Singh
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