The Commonwealth Bank has launched a near-identical “no interest” credit card just a day after NAB announced it was launching its flat fee StraightUp Card on Thursday. Aside from slightly different monthly fee rates, the only other key difference is that while NAB partnered with Visa, CBA’s “CommBank Neo” is a Mastercard product. Like StraightUp,… Read more »
CBA’s x15 Ventures is offering $150,000 in funding for a fintech startup helping young people with their finances
The Commonwealth Bank’s VC fund, x15 ventures, is holding a second Xccelerate fintech pitch event, with the winning idea landing $150,000 from CBA. The virtual pitch on November 3-4, and applications for Xccelerate are open until September 27. You can apply here. The shortlisted startups will be notified by October 23. x15 ventures is running Xccelerate… Read more »
The Commonwealth Bank (CBA) is using venture capital firms Square Peg Capital and Zetta Venture Partners to invest in startups, putting US$10 million (A$14m) each into the latest funds from the two VCs. Zetta is a US-based fund investing in artificial intelligence. In an update on the bank’s innovation program this week, CBA CEO Matt… Read more »
A small business startup building relationships with corporates has won the $300,000 prize from CBA’s new accelerator program
Two sisters connecting small companies with corporate buyers have won the inaugural Xccelerate2020 venture program hosted by the Commonwealth Bank’s X15 Ventures, landing a prize worth more than $300,000 from CBA and Microsoft. Frances Atkins and Naomi Vowel co-founded givvable, a platform that helps companies find and source sustainable suppliers. On top of $150,000 in… Read more »
Digital receipts startup Slyp has added the last of the big four banks to its investor list with the Commonwealth Bank signing up as a minority stakeholder. That makes it the first fintech to bag investments from the big 4 banks with Westpac (via Reinventure), NAB and ANZ already on the books with minority stakes… Read more »
The Commonwealth Bank has taken the fight to buy-now-pay-later (BNPL) fintechs such as Afterpay and Zip, bringing Swedish rival Klarna to Australia. Klarna Australia launched today and is available through the CBA’s app for online shopping. The BNPL is also available to non-CBA consumers via the Klarna app. CBA announced last year that it was… Read more »
Here’s an astonishing number about Australia’s $2 trillion sharemarket: just 4% of people trade online annually, despite the fact that it’s 22 years since the CBA launched CommSec, now the country’s largest online stockbroking firm. So the Commonwealth’s broking arm has taken matters into its own hands try make online trading easier and also… Read more »
Former Commonwealth Bank executive Angela Clark has been appointed CEO of Beem It, the P2P payments app launched by a handful of banks earlier this year.
This will allow any vendor using the point-of-sale system to essentially become a delivery-ready store, with GetSwift automatically queueing, batching, routing, and dispatching the delivery of any products purchased through an Albert POS.
The Commonwealth Bank of Australia (CBA) has today announced the signing of a Memorandum of Understanding (MoU) with Ant Financial Services Group’s mobile and online payment platform, Alipay.