Highlights from the CBA Technology 2021 Briefing:
- Accelerated Technology strategy to benchmark against the best in world
- CBA has applied for accreditation to ingest data under the government’s Open Banking regime
- Acquisition of cloud platform Doshii
- 7.5 million customers are now digitally active, an increase of 10 per cent since December 2018
- 6.3 million customers using the CommBank app
CBA announced accelerating its digital strategy with an ambition to provide customers with one of the best digital experiences of any company globally. Speaking at the CBA technology briefing 2021 CEO Matt Comyn said: “CBA wants to remain Australia’s clear leader in digital banking.
We recognise customers are no longer just benchmarking us against other financial institutions. They compare us with the best digital experiences they get from any business in the world”.
We intend to be at the global forefront of the digital experience, and be the trusted partner at the centre of our customers’ financial lives
Last year, Forrester rated CBA as the best digital bank among the leading banks in Australia. Forrester rated CBA as the overall digital experience leader among mobile banking apps in Australia.
Also read: The CBA Digital Strategy
CBA Technology Investments Providing Unique Insights
“Our investment in technology including data, machine learning and artificial intelligence is giving us unique insights into each customer’s individual needs.
“Today we also announced that CBA has applied for accreditation to ingest data under the government’s Open Banking regime.
The Consumer Data Right puts customers in control and will be a critical enabler of Australia’s future and the digital economy. We will continue to invest to support it and bring the benefits to CBA’s customers.
‘For You’
Targets Personalisation With Integrated Technology
“We are moving quickly to build, develop, partner and invest in new services we can integrate into the CommBank app.
Our ambition is that our ‘For You’ personalisation function will bring together internal and external services and provide a single place for our customers to receive personalised service, benefits and offers.
CBA also announced the acquisition of Doshii, a cloud platform for the hospitality industry that integrates information from multiple food ordering apps – such as Deliveroo – into one system that consolidates a venue’s point of sale and back end processes into one simple platform.
Also read: Westpac strikes Afterpay partnership, targets new products and services
CBA Digital Banking Figures – Supported By Technology Investments
Mr Comyn said CBA had seen record numbers of customers banking digitally:
- 7.5 million customers are now digitally active, an increase of 10 per cent since December 2018
- 6.3 million customers using the CommBank app, as at December 2020, up from 5.9 million customers from the same time the year before
- The number of app log-ins clocked about 6.95 million log-ins per day
- For the month of December 2020, app transactions per day were 1.7 million, equating to daily transactions of $1 billion
