“Our investment in technology including data, machine learning and artificial intelligence is giving us unique insights into each customer’s individual needs. Customers want more control over their financial affairs, more confidence they can achieve financial goals, and an ability to manage all of their financial life in one place.
“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.
“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.
“It’s a given that every customer wants their banking to be safe, secure, easy and convenient. But they also want digital tools to help them plan and budget, set goals and achieve them, predict and manage their bills, and achieve their dreams of owning a home, running a business or securing their retirement. They also want to be connected to new services, enabled by digital technology, that enrich their lives.
Mr Comyn said: “Today we 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.
“Next week also marks the first anniversary of x15ventures, our start-up platform to build new ventures that broaden the range of services we can offer customers from within our app. In the 12 months since launch, x15 has helped launch or scale four new ventures and has now acquired a fifth.
Mr Comyn said new CommBank app services such as the Coronavirus Money Plan and Bill Sense, both budgeting tools launched last year, helped predict customers’ future bills and cash flow so they could budget through the pandemic and more broadly manage their everyday expenditure.