smartPay Qorus Banking Innovation Awards 2016 - Winner

Concept and objectives: smartPay takes a photo of a bill using the smartphones camera, extracts the information that is necessary for a money transfer and uses it for a payment. All the customer needs to do is taking a photo of a bill and authorizing the transfer. smartPay is also an online safe where users can save scanned bills after the payment or easily upload documents. This way important documents are stored safely and can be accessed anywhere, anytime. Reasons behind: Bill settlement is time consuming and error-prone. Customers have to log in into their bank account and fill 22 digit IBAN numbers and cryptic invoice details in an online form. Customers of branch banks might even have to bring or send money transfer forms to their bank. smartPay saves its users this hassle and gives them back free time. smartPay helps to get rid of paper work and to better organise daily lives. State of competition: Bill scanning apps evolved in Germany recently with e.g. ING offering such service. Giving the customer the opportunity of storing and administrating its documents in a secure environment of a bank is unique so far. Sources of inspiration: comdirect wants to be a smart companion for its customers concerning all financial matters and to simplify daily lives. Departments involved: smartPay was developed by a cross functional team from several departments; e.g. IT, Innovation -, Product -, Customer Management, User Interface. Main results so far: 50K downloads, 45K bill payments and 30K archived documents.