The #1 trending app on The App Store this month. That’s quite an accomplishment. Even more so when the app is for a bank.
Bank of New Zealand’s app and campaign by Colenso BBDO is called Convert It. It is aimed at Kiwi travellers. Essentially, it allows the user to hold their phone up to any foreign currency to instantly convert the price into New Zealand dollars.
The idea, that was begun within BNZ and developed by Colenso BBDO with a lot of customer testing and input, is seen as an answer to one of the most common concerns of travellers – trying to keep tabs on what they’re actually spending while overseas. When online, BNZ Convert It automatically taps into the latest available exchange rate. But can still be used offline, as it simply by continues to use the most recently loaded rate until the user is back on wifi. BNZ Convert It can be used with 170 foreign currencies. It uses machine learning to keep itself up to date.
Cleverly, BNZ Convert It also uses geo-mapping to best guess what currency you are likely to be dealing with, but can be easily reset manually if need be.
Gavin Becker, head of innovation & ventures at Colenso BBDO commented, “Although it’s not the first exchange rate app, we think BNZ Convert It is superior to anything currently available. We put a lot of effort into Convert It’s character recognition capability which uses machine learning to recognise a wide array of numbers and text, giving it the ability to accurately identify and convert currencies on everything –from small price tags, to menus and restaurant bills, to digital screens and monitors.”
BNZ Convert It is designed to give travellers a very good indication of what they will pay in New Zealand dollars, rather than a guaranteed cost, as there will always be too many variables in terms of different payment provider rates and fees when using cards.
Rachel Aikin, head of future value at BNZ added, “Our ambition to help New Zealanders be good with money doesn’t stop at the border. New Zealanders took 3 million trips that involved international travel in 2017 alone. We should be able to help them save for it, enjoy it while they’re there, and even pay it off and start saving for the next one, once they’re home.”
The app is free to download for all New Zealanders, not just BNZ customers. Since its launch in late July, the App has been downloaded over 21,000 times and used in 94 countries, rating #1 in the travel sections for both Android Play Store and iOS App Store.
The app features in a new 30 second advertisement that launched in late July and is just one of a number of travel-related products that features in BNZ’s Good to Go travel campaign.