Shaping the Future of Transaction Banking: CommBank Accelerate Perth & Brisbane Takeaways

“At CommBank, we’re proud to lead in safety, investing more than $900 million in the past financial year to help protect our customers from fraud, scams, cyber threats, financial crime and sharing our expertise to help make Australia safer¹.”

“This commitment is reflected in tools like NameCheck, which verifies payee details and has already prevented over $880 million in mistaken and scam payments since July 2023.¹” says Regis Petit, CommBank’s Executive General Manager, Institutional Transaction Banking.

These themes were front and centre at our CommBank Accelerate events in Perth and Brisbane.

Across eight product innovation hubs, our experts revealed the digital capabilities transforming how businesses transact, manage liquidity, reduce risk and drive growth.

Here are the key takeaways and practical insights for businesses navigating this dynamic environment.

Simplifying the payment process

As real-time payments become a global standard, value-added innovations and solutions are emerging. This includes Payments-as-a-Service (PaaS) models using APIs to connect businesses with new payments capabilities tailored to their needs.

“We aim to make it as easy as possible for customers to move funds quickly and securely. Whether your preference is through our trusted digital channels like CommBiz or through API integration into your own operating models. With near real-time payments, that future of instant, seamless transactions that keep your business and customers connected is here,”
- Ethan Teas, Executive General Manager Payments.

CommBank’s APIs help businesses offer new payment options, such as PayTo®², where they can initiate real-time payments from customers’ bank accounts.

Another example is other financial institutions adopting CommBank’s NameCheck API, providing their customers an indication whether account details look right and fewer mistaken payments.

These advancements reflect the broader evolution of digital payments, including CommBank’s future Smart Real Estate Payments solution, which was showcased during CommBank Accelerate. In an Australian banking first, this solution is integrated into MRI’s Property Tree software to digitise and automate rental payments, improving efficiency and reducing administrative burden across the rental ecosystem.

Payments are transforming how businesses operate

A range of digital and in-person payment solutions is transforming how businesses operate - going beyond transactions to deliver real-time data insights, enhanced security, and seamless integration.

From advanced in-store solutions to online gateways, we enable merchants to not only accept payments anywhere but also gain deeper visibility into customer behaviour, optimise cash flow, and unlock new revenue opportunities.

Luke Jericho, CommBank’s Head of eCommerce says businesses are moving towards invisible payments and secure, hyper-personalised checkout experiences.

“We’re simplifying payment experiences through orchestration and developing tailored payment solutions which meet the specific and emerging needs of merchants in key industry verticals”.

The new-look CommBiz Mobile: Better business banking on the go

Australians are increasingly doing business on the go, and with the launch of CommBank’s latest CommBiz Mobile app, businesses now have access to a more seamless and secure platform that places business operations at their fingertips.³

“The latest CommBiz Mobile app has been developed in close consultation with our customers – addressing user feedback and building an updated app that better meets their needs,”
- Kim Hughes, General Manager, Digital & Transformation.

Through the new-look app, businesses can make transfers and payments, authorise or reject payments, and view real-time balance and transaction details. Users can also view and settle foreign exchange trades. The app features advanced fraud detection technology, and smart multi-factor authentication for use with CommBiz on desktop.

“We're seeing corporates increasingly using mobile devices for banking, a task once limited to desktops. So, we’re bringing the best of retail digital design to our institutional and corporate customers,” added Ms Hughes.

Uplifting global speed and safety

Payments connectivity is strengthening across global markets, with new capabilities and better-integrated payments rails helping businesses move, track, exchange and settle funds efficiently. For businesses with global reach, this could mean faster and more visible cash flows.

In June 2025, CommBank further improved cross-border payment availability by extending inbound foreign currency payment processing times for CommBank accounts to 20 hours a day, covering 14 key (non-AUD) currencies on business days (12-hour processing window on Mondays). This industry-leading initiative, covering CommBank beneficiary accounts on business days, also delivers faster, more efficient cross-border transactions. The enhanced service demonstrates CommBank’s commitment to improving speed, accessibility, and transparency for Australian customers' international payment needs.

Ethan Teas, CommBank’s Executive General Manager Payments, said, “CommBank plays a leading role in the payments industry in Australia, enabled by its unmatched scale and infrastructure. With over 40% of all inbound payments to Australia destined for CommBank beneficiaries and over 16 million customers, the bank’s footprint in Australia’s financial ecosystem is both foundational and transformative.”

AI-powered intelligence to combat scams

In an Australian banking first, CommBank is collaborating with cyber-intelligence firm Apate.ai to harness near real-time scam intelligence and help protect Australians from harm.⁴

In his keynote address at CommBank Accelerate Brisbane, James Roberts showcased CommBank’s latest weapon in the fight against scams; a fleet of thousands of AI-powered bot profiles, deployed by Apate.ai – a cyber-intelligence firm and spin-out from Macquarie University.

These AI-bots are engineered to engage scammers, gather critical intelligence and disrupt scam operations – with near real-time scam intelligence harnessed by CommBank to safeguard both our customers and the wider Australian community.⁴

“This is about flipping the script,” said James Roberts, CommBank’s General Manager of Group Fraud.

“Scammers are increasingly using AI to target Australians – we’re turning the tables by using AI to fight back. Every minute a scammer is engaging with a bot, is a minute they're not targeting an Australian. The near real-time intelligence being gathered is a game-changer in how we help to protect our customers and the broader community.”

One-for-all approach to cyber security

From a cyber security standpoint, it’s important for businesses to be plugged into what’s happening externally and adopt a ‘chain of reaction’ mindset rather than viewing threats in isolation, says Martijn Verbree, CommBank’s Group Security Lead, Cyber.

In response to escalating threats, an ecosystem approach to security is vital. That is, ensuring all interconnected parties across the supply chain are working together to uplift safeguards.

“We have programs to share intelligence to help Australian businesses remain on top of the threat, and we’re deploying new technologies to keep our customers’ digital banking secure,”
- Martijn Verbree, CommBank’s Group Security Lead, Cyber.

This involves establishing robust guidelines for the use of our AI applications across the group. Additionally, we are leveraging AI to strengthen our cyber defences, which is essential as cybercriminals are increasingly utilising AI as well.

The democratisation of intelligence and customer insights

As payments become more data-rich, they’re unlocking powerful customer insights across industries.

In her keynote address at CommBank Accelerate Brisbane, Makenna Ralston, CEO of CommBank iQ, shared how AI is helping break down technical barriers and empower decision-makers at every level.

“At CommBank iQ, we are passionate about putting this data advantage into the hands of all kinds of decision makers to enable entire ecosystems of Australian leaders to access consumer intelligence,” Ralston said.

“The organisations that democratise intelligence first will capture disproportionate market advantage. Speed matters. Scale matters. Strategic partnerships matter.”

Optimising business performance

Transactional data can also provide valuable insights into financial performance and process improvements. This includes detecting cash flow trends, identifying cost savings and enhancing efficiencies.

Today, transactional insights can be sourced from integrated payment systems, web-based portals or in-store terminals, enabling businesses to better track key performance indicators.

Simplifying cash management with Virtual accounts and Working Capital

Enabling virtual account capabilities into account and cash management processes can help businesses unlock automation and streamline operations.

CommBank is working on delivering a virtual accounts solution for our customers that will segregate transactions and balances, enhance reconciliation, and provide central visibility for a business’s real-time cash position. Over the long term, businesses can potentially embed virtual account capabilities within their ERP systems and achieve end to end seamless automation.

CommBank has also invested heavily in products, platforms and people to deliver market leading working capital solutions. These solutions are increasingly being recognised by Australian corporates to assist with key KPIs surrounding their working capital metrics.

Data analytics are also being used to showcase the importance of working capital optimisation through peer analysis and industry benchmarking to provide solutions that will improve free cash flow positions, which CommBank is now providing to their existing customers.

Pathways to AI readiness

AI is revolutionising many aspects of payments with seemingly limitless applications. CommBank, recognised in the top five banks globally for AI maturity⁵, is using microlearning to boost AI skills among staff. This includes rolling out learning videos on topics such as generative AI and responsible AI.

Alongside a stringent governance framework, this supports ongoing AI initiatives and customer benefits. This includes using AI to streamline and simplify loan applications and annual credit reviews for Australian small business customers.⁶