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redy hits the international stage

11 February 2015 |Media centre

Bendigo and Adelaide Bank, a BRW Top 50 innovator, will today showcase its latest mobile payments technology, redy, on the world stage.

The Bank has been selected to demonstrate redy to more than 1000 international financial executives at FinovateEurope 2015 in London.

Bendigo is one of two Australian representatives among 65 presenters chosen from some of the world’s leading financial innovators.

redy will be presented by Bendigo’s Executive Community Engagement, Robert Musgrove, and Rick Van Emerick, senior technicial adviser from Bank subsidiary Community Telco Australia.

"To be selected is a real coup," Mr Musgrove said. "It’s a testament not only to our technical capability, but to the way in which redy reflects our strategy.

"Our Bank is built on responding to customer needs and helping its communities to prosper and here we have a device that does both by enabling customers to donate a percentage of the redy transaction fee to the charity or cause of their choosing.

"We are leveraging the power of aggregated micro-payments to help communities source new funding streams via a form of crowd funding.

"redy also acts as an effective 'shop locally' initiative, retaining capital in local markets rather than see it leaking into internet sales."

The Finovate format allows companies just seven minutes – without presentation aids such as Powerpoint – to demonstrate their innovation.

Mr Musgrove said Bendigo would show delegates how easy redy was to use for both consumer and merchant.

"We’ll also replicate the Australian first we clocked up back in July when we used a Samsung smart watch to perform a transaction.

"Since then we’ve added further functionality we’d like to show off, so it’s going to be a pretty hectic seven minutes."

To find out more about redy, watch this short video available on the Bendigo Bank YouTube channel.

About Bendigo’s technology

In 1982, Bendigo was the first financial institution to introduce Visa to Australia.

In 1998, Bendigo launched the first Australian online banking platform.

Bendigo has in place the bank/telco/switch triumvirate necessary for success in the rapidly evolving world of digital banking and payments. Bendigo owns Community Telco Australia and is a substantial shareholder in payments company Cuscal.

Bendigo has signed a memorandum of understanding with Samsung to develop mobile payment systems for the Australian market.

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