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# Cashless Banking Apps
Australia Commonwealth's CommBank is Optimized for the Apple Watch

By Laura McQuarrie | Published 2015-04-16 | Lifestyle
Source: Trend Hunter, https://www.trendhunter.com/trends/banking-apps
References: [cnet](http://www.cnet.com/au/news/commbank-smartwatch-app-brings-cardless-cash-to-your-wrist/) & [commbank.au](https://www.commbank.com.au/)

With the [Apple](https://www.trendhunter.com/trends/apple-cash) Watch coming soon to Australia, Commonwealth Bank is preparing to take on [banking apps](https://www.trendhunter.com/trends/mobile-banking-apps) from competitors by getting into wearables.

The CommBank app for iOS and Android wearables will be launching soon, available for existing CommBank customers. Making the most of [wearable technology](https://www.trendhunter.com/trends/ant-browser), the app will have a feature called Cardless Cash, which will allow customers to take out cash from ATMs with a secure 8-digit code. Using the touchscreen of a watch face, users are able to swipe in order to select the amount of money to be withdrawn. A CommBank's users account balance is also viewable from the app, making it very easy to get a sense of your financial standing at a glance.

## Trend Insights (Trend Hunter)

- Score: 1.4/10
- Popularity: 12% | Activity: 23% | Freshness: 8%
- Audience gender: 50% men, 50% women
- Primary generations: Millennial
- Top markets: Asia

## Categories

[Trend Hunter](https://www.trendhunter.com/trends) > [Lifestyle](https://www.trendhunter.com/lifestyle) > [Credit Crunch](https://www.trendhunter.com/creditcrunch)

## Key Themes

### What's Driving This Trend

- **Wearable Banking Apps:** Opportunity for banks to develop apps for wearable devices like smartwatches to offer convenient and secure banking experiences.
- **Cardless Cash Technology:** Innovation in cash withdrawal methods by replacing physical cards with secure codes, ensuring convenience and reducing the risk of card theft.
- **Financial Status at a Glance:** Emerging trend of providing real-time updates on account balances and financial transactions through mobile banking apps, making it easy for users to monitor their finances.

### Who This Affects Most

- **Banking and Finance:** The industry can leverage wearable technology and cardless cash solutions to provide seamless and secure banking experiences.
- **Mobile App Development:** Growing demand for innovative mobile banking apps that are compatible with wearable devices, presenting an opportunity for app developers to create user-friendly experiences.
- **ATM Technology:** Opportunity for ATM manufacturers and service providers to integrate cardless cash withdrawal capabilities into their machines, enhancing convenience and security for customers.

## Related on Trend Hunter

- [Credit Card-Eliminating Watches](https://www.trendhunter.com/trends/soulwrist.md)
- [Digital Cash Payment Systems](https://www.trendhunter.com/trends/apple-cash.md)
- [Global Money-Transferring Apps](https://www.trendhunter.com/trends/hsbc-2.md)
- [Bank-Enabled Payment Rings](https://www.trendhunter.com/trends/intesa-sanpaolo-1.md)
- [UK Contactless Pay Expansions](https://www.trendhunter.com/trends/tap-to-pay-1.md)
- [Contactless Payment Accepting Tools](https://www.trendhunter.com/trends/tap-to-pay.md)
- [App-Based Employee Payments](https://www.trendhunter.com/trends/instant-financial-1.md)
- [Tap-to-Pay Smartphone Services](https://www.trendhunter.com/trends/apple-tap-to-pay.md)
- [Simplicity-Focused Mobile Banking Apps](https://www.trendhunter.com/trends/mobile-banking-apps.md)