Commonwealth Bank last week provided an update on its strategy and investments to reimagine products and services and build the best digital banking experiences, with CEO Matt Comyn saying “The shift to digital banking is accelerating and we are investing to remain at the forefront of innovation.” According to Comyn,

CommBank announced today that it has invested $A30 million in the online shopping startup Little Birdie, bringing its pre-launch valuation to $A130 million.  Little Birdie claims that this is “potentially one of the largest pre-launch funding rounds in Australia.”  Little Birdie uses AI to collate a homepage of online shopping,

Commonwealth Bank announced today that it has partnered with SaaS e-commerce platform BigCommerce to support merchants with their online businesses.  BigCommerce claims that it helps companies to capture market opportunities, generate “content-rich experiences” and connect backend systems and apps to help businesses to scale. According to James Fowle, Executive General

Buy Now Pay Later provider Klarna has added half a million Australian consumers in less than a year through “meaningful” personalisation and what its local leader describes as a “carrot” approach to repayments. Launched a year ago nearly to the day with $300 million of backing from CBA, Klarna entered

CBA CEO Matt Comyn is doubling down on his multibillion dollar technology bet, this week announcing a plan to put Australia’s largest bank among the global leaders of digital experiences and to begin receiving open banking data. “CBA wants to remain Australia’s clear leader in digital banking,” Comyn said Thursday.

The Commonwealth Bank of Australia again increased its IT spend last year as it chases CEO Matt Comyn’s $5 billion vision of being Australia’s digital leader. Australia’s largest bank says it now has 7.4 million “digitally active customers”, up more than 400,000 from the previous year. Financial results released today

CommBank is ramping up its investment in digital startups, committing US$10 million to the most recent funds for both Square Peg and Zetta Venture Partners to support local fintechs, as well as emerging artificial intelligence businesses in Australia. The strategic partners are tasked with stewarding new digital banking services into

The Commonwealth Bank of Australia today announced it will provide customers with itemised digital receipts within its app for certain transactions through a partnership and investment in local fintech Slyp. All of the big four banks now have a stake in Slyp which will continue to operate independently. NAB has

tap and go, payments, eftpos

Digital wallet users spent more than $1 billion on a record number of transactions in March as cash and physical contact were minimised in an attempt to stem the spread of COVID-19, according to data from the Commonwealth Bank. CBA’s monthly analysis of transactions from Apple Pay, Google Pay, Samsung

In an open banking world, consumers will flock to the best apps rather than traditional brands, according to AppDynamics ANZ director Benjamin Weldon, who says the shift is putting growing pressure on industry incumbents. According to AppDynamics research, in 2017 around one in four consumers reported being more loyal to