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CBA upgrades banking app to deliver superior customer experience

By Gloria Methri

May 26, 2023

  • Australia
  • Banking App
  • Cba
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CBA, Commonwealth Bank, Australia, Digital Banking, Banking App, FinTech, Commonwealth Bank (CBA) has announced a refreshed version of the CommBank app, to offer more personalized, relevant, and safe customer experiences.

CommBank app 5.0 is designed to deliver individually tailored content and new dynamic navigation making its usage simpler and better for 7.7 million users. It will also allow customers to buy, sell and hold shares through the integration of CommSec, while new functionality will enable business customers to switch seamlessly between their personal and business accounts.

“As the trusted partner of one in three Australians and a quarter of all businesses, our strategic approach to building tomorrow’s bank today is clearly focused on supporting, strengthening, and deepening the relationships with all of our customers,” said CBA CEO Matt Comyn.

“Utilising global leading artificial intelligence and building on the digital investments and advances we have made in recent years, we are now able to better understand the needs of our 8.3 million digitally active customers, delivering them more tailored and relevant services, and offering more choices and highly-differentiated benefits than ever before.”

Launching next month, each of the app’s 7.7 million active customers will be presented with an individually tailored home screen, services, and product information when logging on, compared with the current version.

On average, CBA customers accessing the app make combined payments of $63 billion a month. The new and simpler navigation features will make it easier to make transactions, book appointments, find and access services, and utilize money management tools.

Customers will be able to buy, sell and hold Australian shares and exchange-traded funds through the app from next month. This will be available to CBA retail customers and existing customers of CommSec, the country’s leading online broker.

Business customers can also take advantage of a new range of merchant and deposit products including the Smart family of payment terminals, as well as the Powerboard e-commerce offering that simplifies the integration of a company’s multiple technological services through one single application.

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