Matt Comyn

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’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

Klarna

CommBank is making a big play in the buy now, pay later space, investing a total of US$300 million in Swedish Afterpay rival Klarna which officially launched in Australia today.  The bank initially invested US$100 million in Klarna in August 2018, to become its exclusive partner in Australia and New

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

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’s head of retail banking, Matt Comyn, has been selected as the company’s new CEO. Comyn will replace outgoing CEO Ian Narev in April this year. CBA is hoping the appointment will bring stability in what could be a challenging year for the bank. WHICH-50 Reader Survey: Help us