Commonwealth Bank today welcomed the release of Ian McPhee’s third quarterly report on industry progress in implementing the Australian Bankers’ Association (ABA) reforms.
Matt Comyn, Group Executive Retail Banking Services, said: “Good progress is already being made by CBA and the whole industry. We will continue to implement more reforms that deliver real and practical benefits to our customers.
“We know for customers in challenging circumstances it can be daunting dealing with a bank. We want to make it easier to help customers in need more quickly. The new Customer Advocate team has started to analyse fresh data to help us better understand customers who may need additional care and support if they are experiencing financial hardship or other types of disadvantage.
“This is just one example of the progress being made to support customers’ financial wellbeing. We know there is still more for us to do and our Customer Advocate team is helping us to develop and test new approaches to better support customers when they need it most,” Mr Comyn said.