BOQ Group delivers key digital milestone: ME Go
17 July 2023
Following a multi-year digital transformation journey, BOQ Group released ME Go this week, the next instalment in a series of digital apps delivered by the Group following myBOQ in 2022 and Virgin Money in 2021.
The launch makes BOQ one of the first banks in the world to deliver three banking brands into one cloud-based core banking system.
Having three retail brands on a single retail stack will help the Group deliver on its digital strategy. It will make its everyday banking portfolios more agile, scalable and competitive at a time when the race for deposits, one of the cheapest forms of funding for lenders, has intensified. As pandemic support measures expire, banks will face more expensive funding, adding pressure to margins.
ME CEO, Martine Jager said: “We’re excited to push the button on ME Go.
"The ME Go digital app represents another key milestone in our IT transformational journey that will enhance our employee and customer experience proposition, creating a real alternative to the big banks.
“It will also accelerate our scale and data capabilities allowing the bank to service customers at a lower cost."
The ME Go app will boast intuitive digital saving and budgeting tools and house one new transaction account (SpendME) and two new savings accounts that can be opened in under 5-mintues (HomeME and SaveME).
It will also allow ME to be the first bank in Australia to donate to multiple charities on behalf of debit card customers who take out a SpendME account. ME will donate 1 cent to a customer’s charity of choice every time the customer taps with their digital wallet as part of the bank’s commitment to ‘making money good’, turning small change into big change.
“In addition to delivering on our digital strategy, we’re thrilled to be bringing BOQ’s Group’s new purpose of ‘building social capital’ to life. By extending our charity line-up, we hope to magnify the social impact we can create alongside our customer care and community support programs,” added Jager.
Customer banking insights indicate that ME’s charity-aligned cards will prove popular. According to RFi Global, around three-quarters of Australian transaction account holders who are likely to switch banks believe that their bank should partner with charities and other community organisations, and regularly donate to charitable causes.
ME's newly issued debit cards will also be made from 82% recycled materials and feature braille for vision-impaired people.
Response from charities involved:
Australian Wildlife Conservancy Chief Executive Officer, Tim Allard said:
“By using ME’s green card, customers are helping AWC reach our mission to effectively conserve all Australian animals and the habitats in which they live. With your support, we can stem the loss of our wildlife and turn back the tide of extinctions.”
Beyond Blue spokesperson said:
“Donations from ME will go towards the Beyond Blue Support Service, so counsellors can provide immediate advice, support and referrals 24/7 at no cost to users. The service supports more than 300,000 people in Australia every year.”
Minus18 CEO, Micah Scott (he/they) said:
"Through ME's donations, Minus18 will continue to develop articles and content on our website for queer young people, teachers, allies and parents — with more than 1.1 million people accessing these resources every year.”
National Breast Cancer Foundation CEO & Associate Professor, Cleola Anderiesz said:
“ME has supported the National Breast Cancer Foundation for over 12 years and, in that time, has raised $2 million for the very best breast cancer research projects in Australia through ME’s pink debit card and other donations. One of these projects led by Associate Professor Kara Britt is investigating the role of immune cells at the early stage of tumour growth and determining whether targeting these cells can prevent the onset of breast cancer.”
Orange Sky CEO and Co-Founder, Lucas Patchett said:
“It's never been a more important time for our vans and volunteers to be out on the road providing our services to help lighten the load. A donation of $24 allows Orange Sky to provide someone doing it tough a load of clean laundry and a hot shower. ME Bank's support will allow Orange Sky to continue to provide our essential services to the ever-growing Aussies who need a helping hand.”
- For further details on ME Go including accounts and app features, refer to ME's consumer media release.
- Existing ME customers will migrate to the new app at a later stage. Existing customers may choose to open new accounts and transfer funds.
- Terms, conditions, fees and charges apply. This is general information only and you should consider if these products are right for you.