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Texas CUs and Vendors Test Apple Watch Banking Apps
Friday, April 24, 2015 6:45 AM

"The app in the Apple Watch will be almost identical to the app we currently offer for iPhone and tablets," said Greater Texas Federal Credit Union VP of Marketing Brandy Conway. "Because of that, we felt like it would be a good fit for us to be on the leading edge."

The $557-million credit union was contacted by its mobile banking partner, Malauzai. The Austin firm was seeking Apple Watch app beta testers.

The banking app for Apple Watch will be an extension of Malauzai's SmartApp for the iPhone that is available to the CU's 69,000 members, 20,226 of whom use online banking.

To date there have been 15,433 app downloads for iPhone and 2,007 app downloads for iPad.

The initial version of the Apple Watch app will be display-only and include four primary functions: balance for all accounts, transaction history for all available accounts, branch locator, and advertising space/what's new.

The New York-based financial services company, Piper Jaffray, told Reuters it predicts 8 million Apple Watch units will be sold in 2015. Global Securities Research had a higher estimation at 40 million units.

Apple Watch will include an Apple Pay option, a feature Greater Texas FCU plans to add in 2016.


Source: Credit Union Journal, 21 April 2015