Fintech
CommBank App Boasts New Features
The latest data from Communication Bank shows that more than 8.5 million customers are now regularly using the CommBank App. Over the past decade, customer engagement with the app has increased significantly, with the average customer now logging in more than 42 times a month, up from around 15 times a month in 2014.
With over 3 million customers using the app’s various money management tools each month, CommBank has made travel booking (powered by Hopper) and car purchasing services available through the CommBank App to meet more customer needs. This follows the integration of More Telecom into the app in November 2023 to help customers save on telecoms services.
Meg Bonighton, Executive General Manager of Customer Engagement and Digital at CommBank, said The offering of more services through the CommBank App was geared towards customers’ savings goals and spending trends and aimed to provide them with an increasingly integrated and personalised view of all their finances, as well as access to exclusive offers.
“Cost of living is understandably a priority for many of our clients and having a comprehensive overview of their key expenses, savings goals, budgets and investments, all in one place, can help them feel more in control of their finances,” said Mrs Bonighton.
“Travel and car buying are typically big purchases and our goal is to make these experiences smoother and safer for our customers, as well as helping them save money where possible through a range of exclusive offers.
Introducing Travel Booking with CommBank
Since Goal Tracker was introduced to the CommBank App in 2018, 3.2 million goals have been set, with travel consistently being the most popular goal category.
“The popularity of travel-related savings goals and the trends we were seeing in our customers’ travel-related transactions inspired us to partner with Hopper, one of the world’s most popular travel agencies, to launch a travel booking service available via the CommBank app,” said Mrs Bonighton.
Eligible customers can now access Travel Booking to search, book and pay for flights and hotels from hundreds of airlines and hundreds of thousands of hotels.
CommBank Yello and its CommBank Awards credit card rewards programme are integrated into the secure experience to make it easy for eligible customers to reduce travel costs at checkout.
As part of a special launch offer, eligible CommBank Yello customers will receive 10% travel credit back on any hotel booking.
Eligible CommBank credit and debit cardholders can access international travel insurance if they meet certain criteria.
For more information: CommBank launches Travel Booking via the CommBank App.
Car Buying Service Now Accessible via CommBank App
CommBank retail and small business customers can now find, finance and manage their next car using the CommBank App.
CommBank will connect customers with a selection of car listings powered by carsales and Vyro, as well as exclusive offers from leading electric vehicle (EV) manufacturers.
CommBank customers have the option to get conditional approval for customised finance and filter by options within their budget, with loan repayment amounts displayed as they search.
Customers with an existing car may also be eligible to receive an Instant Offer™ from carsales and sell in as little as 24 hours.
“We know our customers want more help when buying cars, especially electric and hybrid ones,” said Marcos Meneguzzi, Executive Director, Consumer Finance at CommBank.
“Our car loan numbers have increased 29 percent in the last year, and loans for hybrid or electric vehicles have increased 45 percent. That’s why we’re working with carsales and Vyro to launch a car buying service that offers more value to customers.”
“Once a customer purchases a car through the CommBank or NetBank App, they will be able to host all their car-related financial and ancillary services, such as insurance or home charging solutions, in one place in the CommBank App,” said Meneguzzi.
For more information: CommBank launches car purchasing service via the CommBank App.