Commonwealth Bank has invested in Klarna, a Swedish rival to Afterpay, and will bring the European buy now, pay later provider to Australia. The deal accompanies the bank’s continued investment in its digital capabilities. CommBank invested US$100 million in the fintech’s US$460 million funding round, announced yesterday, which values the
Australians got a taste of a world without digital payments on Thursday afternoon when Telstra network outage took down ATM and Eftpos machines at some of Australia’s biggest retailers. All services have now been restored and the telco has apologised for the impact and inconvenience to business and their customers.
The Commonwealth Bank plans to invest $5 billion dollars over the next five years in effort to rebuild consumer trust and improve its digital capabilities. Much of that will be spent on technology, says Matt Comyn, who outlined some of the bank’s digital plans in his first major speech as
Commonwealth Bank today launched Alipay on its Albert terminals, meaning 94,000 Australians businesses with point of sale device will be able to accept the popular Chinese payment method. Today’s announcement builds on the MOU signed by CommBank and Alipay back in November 2016, and adds significant scale to Alipay’s existing
Commonwealth Bank executive Angela Clark has been appointed CEO of Beem It, a digital wallet jointly owned by NAB, Westpac and CBA. Clark was part of an executive team made up of staff CBA, Westpac and NAB that spearheaded the founding of the payments business which was establish in February.
Commonwealth Bank has upgraded its online data-driven tools that provide businesses with practical insights to enhance their performance and productivity. Daily IQ 3.0 provides small and medium enterprises (SMEs) and institutional businesses with personalised insights into their cash flow, their performance against the industry, as well as the purchasing behaviours
The World Bank has raised A$110 million to launch the world’s first bond created and managed via blockchain. CommBank is the sole arranger of Bond-i (Blockchain Offered New Debt Instrument), a bond created, allocated, transferred and managed through its life cycle using distributed ledger, on behalf of its client the
The World Bank has selected the Commonwealth Bank of Australia to issue a bond using blockchain technology. CommBank will be the sole arranger of the Kangaroo Bond, the first bond globally to be created, allocated, transferred and managed using blockchain technology. Termed “bond-i” (Blockchain Offered New Debt Instrument) the bond
Commonwealth Bank in the leader in Australian mobile banking, cementing its top ranking for the second year in a row in a study by Forrester Research, which evaluated the mobile apps of Australia’s big four banks. Forrester’s report found CommBank leads the pack saying the bank blended “…extensive functionality with
17 tonnes of almonds grown in regional Victoria have been transported to Hamburg, Germany as part of a blockchain trial between Commonwealth Bank and five Australian and international supply chain companies. The process used the distributed ledger technology, smart contracts and the internet of things (IoT) to track the shipment