Commonwealth Bank of Australia - Enterprise Tech Ecosystem Series

Commonwealth Bank of Australia - Enterprise Tech Ecosystem Series

  • August 2021 •
  • 23 pages •
  • Report ID: 6134024 •
  • Format: PDF
Commonwealth Bank of Australia - Enterprise Tech Ecosystem Series

Summary
Commonwealth Bank of Australia (CBA) is a leading provider of banking and financial services in Australia.Its key business units include retail banking; business and private banking; institutional banking and markets; international financial services; New Zealand (comprises the funds management and banking businesses in New Zealand); international financial services, and wealth management.

The retail banking arm offers several services and products such as insurance, home loans, savings accounts and term deposits, credit cards etc.The business and private banking arm offers overdrafts and lines of credit, business accounts, electronic funds transfer at point of sale (EFTPOS machines), e-commerce solutions, etc.

The institutional banking arm offers risk management products and services, transaction banking services, capital raising solutions, etc.The international financial services arm includes retail and business banking operations in Indonesia as well as minority investments in Vietnam and China.

The wealth management arm provides superannuation; mortgage broking services and solutions etc. CBA operates primarily in Australia and New Zealand and has a presence in the UK, the US, Japan, Singapore, Malta, Hong Kong, Indonesia, China, Vietnam, and the Netherlands.

The report provides information and insights into Commonwealth Bank of Australia’s tech activities, including -
- Insights of its digital transformation strategies and accelerator & innovation programs
- Overview of technology initiatives covering partnerships, product launches, investments and acquisitions
- Insights on each technology initiative including technology theme, objective, and benefits
- Details of estimated ICT budgets and major ICT contracts

Scope
- Commonwealth Bank of Australia is investing in emerging technologies such as mobile banking technologies, machine learning, data and advanced algorithms to maintain its dominance in the Australian banking and financial services markets.
- The bank partners with leading global technology companies, start-ups, fintech companies, research institutes, and scientists in the fields of AI, machine learning, and data science to develop innovative digital solutions that improve the financial well-being of clients and help them in addressing their needs. The bank has been strengthening technical expertise within the organization by establishing innovation labs.

Reasons to Buy
- Gain insights into Commonwealth Bank’s tech operations.
- Gain insights into its tech strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into various product launches, partnerships, investments and acquisition strategies of Commonwealth Bank.
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