The investigation found that CBA had sent more than 61 million marketing emails to customers The Commonwealth Bank of Australia (CBA) has been issued a record penalty of $US3.55 million by the Australian Communications and Media Authority (ACMA) for violating Australia’s spam laws. An ACMA investigation revealed that CBA had…
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Two areas that have the most potential are real asset tokenisation and smart payments Following the announcement from the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC), the Commonwealth Bank (CBA) has welcomed the opportunity to collaborate with both organisations and other industry participants to explore…
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PayTo for CBA business customers to create payment agreements and receive payments Commonwealth Bank (CBA) has become the first major Australian bank to enable PayTo payments for CBA customers – a new digital way to authorise payments from a CBA bank account, and the latest initiative from New Payments Platform…
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Technology initiative will support software developers and data engineers Commonwealth Bank has unveiled its latest technology hub designed to support more than 400 software developers, cloud engineers and cyber specialists in the Melbourne CBD and help create new opportunities for Victoria’s expanding digital economy workforce. The hub, based in the…
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Grid-forming technology is pivotal in maintaining grid stability. The Commonwealth Bank of Australia (CBA) has supported Edify Energy with project finance for construction of Australia’s largest approved grid-forming battery in Darlington Point, outside of Griffith in regional NSW. The 150 MW/300 MWh energy storage portfolio designed and developed by Edify…
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Strategic partnership with H2O.ai boosts the bank’s AI capabilities. Commonwealth Bank has formed an exclusive partnership and taken a minority stake in H2O.ai, a global leader in Artificial Intelligence (AI). Headquartered in Silicon Valley, H2O.ai operates the cloud-based machine learning platform, H2O AI Cloud, and employs a significant number of…
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Strategic partnerships with global crypto leaders Gemini and Chainalysis. Commonwealth Bank (CBA) has announced that it will become Australia’s first bank to offer customers the ability to buy, sell and hold crypto assets, directly through the CommBank app. CBA has partnered with one of the world’s largest regulated crypto exchanges…
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Digital engagement is a key differentiator. Commonwealth Bank’s digital transformation, including the adoption of cloud technology and the migration of 95 per cent of its compute to the public cloud, has been recognised at the recent VMware Customer Excellence Awards. At the recent virtual awards ceremony, the bank took home the 2021 Digital Transformation award. To date, CBA has successfully migrated over 2,300 virtual machines (equating to…
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Australian government has singled out Commonwealth Bank’s data-driven and unique digital experience. A new report about the nation’s welfare published by the Australian government has recognised the bank’s innovative use of data to help retail and business customers during COVID. Chief Data & Analytics Officer, Dr Andrew McMullan said the…
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Reimagining products and services and building digital banking experiences. The Commonwealth Bank of Australia (CBA) has launched a pilot under the new Consumer Data Right (CDR), becoming the first major Australian bank to allow customers to view account balances from other eligible financial institutions directly in the CommBank app. The…
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