CBA Broadens Its Digital Strategy

The Commonwealth Bank of Australia (CBA) will be the first big four bank to allow customers to view account information from rival banks within its app – adding functionality to its digital offering.

“We aim to be the most trusted partner at the centre of our customers’ financial lives by saving them money, giving them more control over their finances, and by making banking simpler and easier,” said CBA CEO Matt Comyn.

The move increases the bank’s usage of the ‘consumer data right’.

Further, the bank aims to increase its use of data and disruptive tech-focused business to improve its digital offering to the customer.

“We are integrating new services into our platform to customise and personalise the digital experience in ways that will increase engagement and bring greater value to our customers,” added Mr Comyn.

The statement is made evident through CBA’s 25% shareholding in Amber, a new energy retailer providing direct access to wholesale energy prices for a monthly subscription of $15.

Consumer data right will soon be extended from banking to energy and Amber will provide CBA with relevant consumer behaviour when buying energy.

“Purchasing a home is a time when customers look for ways to save money, and electricity is a large expense in a household budget. Our partnership with Amber will help to differentiate our home buying proposition …”

Also announced today is a 23% shareholding in Little Birdie, an online shopping start-up designed to help customers find deals online.

“Deals and offers, integrated with CBA’s goal savings products, will help customers save for a special purchase in a completely different way.”

Treechangers seeking a home and income should take note of this west coast property in picturesque Pickering Brook in the Perth Hills, which comes with its own live-in residents.

Known as ‘the Margaret River of the Hills’ the area boasts stunning bushland while being just 30 minutes from all the amenity Perth has to offer.

With eight bedrooms and 10 bathrooms, this property is a home and business, operating as a thriving day spa, Hidden Valley Eco Lodges and Day Spa.

The private main residence is made of rammed earth for thermal comfort and has three bedrooms, luxurious bathroom and a large open plan living area. A private jacuzzi on the spacious entertaining deck is the perfect spot for enjoying beautiful bushland views at the end of a long day.

For day spa guests, there are four deluxe spa treatment rooms serviced by qualified staff, a reception area and lounge plus a commercial kitchen. Overnight guests can choose from five lodges with fully equipped kitchen and heated jacuzzi. As a going concern with a consistently high annual turnover, it’s a unique opportunity for the right buyer.

Set over 5.46ha, the property is also home to a very special group of residents: a small herd of alpacas, which are included in the sale.

Price guide: $6.5 million

Inspection: By expression of interest

Agent: Susanne Broido, The Agency 0499 770 237

CBA Broadens Its Digital Strategy

The bank is hoping its fresh plan will bring them closer to the customer.