CBA

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

The debate over the future of screen scraping in Australia is being complicated by the slow roll out of Australia’s open banking regime, a data sharing system which would make the practice obsolete. Screen scraping occurs when consumers provide their banking username and password to a third party, such as

CommBank and Wesfarmers have signed an agreement to upgrade the conglomerate’s existing debt facility to a $400 million loan which is tied to sustainability goals like enhanced indigenous employment and carbon emission reduction.  Wesfarmers will pay less or more for their funding based on their environmental, social and governance (ESG)

The Commonwealth Bank of Australia’s half yearly results released today show growth in digital channels and a corresponding increase in IT costs as the country’s biggest bank pursues a $5 billion dollar bet on digital. The bank has also fired bank against claims that its latest digital venture, a partnership

CommBank X15 Ventures

Commbank has launched a new start-up incubator called X15 Ventures, which it says will produce 25 new ventures by 2024, signalling a new approach to the startup-enterprise relationship. The bank announced the initiative today which it described as an “Australian technology venture-building entity designed to deliver new digital solutions.” Download: Which-50’s

Early credit card spending data from Commonwealth Bank indicates that Australian retailers enjoyed a strong Black Friday sale, with spending more than doubling this year as compared to last year. Well-above average sales were recorded across the whole weekend through to Cyber Monday.  “A sample of our credit card data

Amazon Hub

Amazon parcels can be picked up from select CommBank branches, Stockland shopping centres and Victorian newsagents as part of a new click and collect partnership launched today.  The Seattle-based ecommerce giant has begun rolling out Amazon Hub in Australia, a new network of more than 100 parcel pickup points which