Heritage Bank turns on digital international transfers – Finance – Strategy

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Heritage Bank has launched its first online international transfer solution, now allowing customers the option of sending money overseas via its banking app.

Prior to the launch international payments could only be completed in a branch and took up to 48 hours to complete.

Now, Heritage Bank customers can access the new cross-border payments capability via Heritage Bank’s internet banking or mobile app.

The customer-owned bank’s international transfers use an integrated API solution to connect to payment company Convera, previously known as Western Union Business Solutions (WUBS).

A Heritage spokesperson told iTnews prior to the new service “customers had to go into a branch to request a telegraphic transfer.”

“This meant they had to physically get to a branch during opening hours, whereas now transfers can be performed 24/7 online from wherever customers can access the Heritage Mobile Banking app.

Building the feature internally on Heritage’s own digital channels, the capability “is more convenient than having to visit a Heritage branch during opening hours.

“Payments are also received faster, providing the recipient access to the funds quicker,” the spokesperson said.

Heritage Bank CEO Peter Lock said in an announcement “with the explosion of online purchases now taking place across international market places, our new international payments service provides a seamless facility for our members.”

Lock added “the new capabilities will be a huge step forward in simplicity and convenience for our members and enable them to make payments via a large number of currencies.”

The bank has been progressing forward with its digital transformation in recent years, improving its capabilities to provide online services to its members.

Earlier this August Lock said Heritage Bank may be able to “leapfrog” a planned digital transformation upgrade on an iTnews podcast.

The bank’s pending merger with People’s Choice Credit Union could create “a new national mutual that acts as a counterbalance to the big national banks” and become the “eighth largest Australian domestic bank”.



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