CBA Broadens Its Digital Strategy
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CBA Broadens Its Digital Strategy

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

By Terry Christodoulou
Thu, May 27, 2021 1:01pmGrey Clock < 1 min

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.”



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Tech investor was one of the most outspoken supporters of Trump in Silicon Valley

By Preetika Rana
Fri, Dec 6, 2024 2 min

President-elect Donald Trump named a Silicon Valley investor close to Elon Musk as the White House’s artificial intelligence and cryptocurrency policy chief, signaling the growing influence of tech leaders and loyalists in the new administration .

David Sacks , a former PayPal executive, will serve as the “White House A.I. & Crypto Czar,” Trump said on his social-media platform Truth Social.

“In this important role, David will guide policy for the Administration in Artificial Intelligence and Cryptocurrency, two areas critical to the future of American competitiveness,” he posted.

Musk and Vice President-elect JD Vance chimed in with congratulatory messages on X.

Sacks was one of the first vocal supporters of Trump in Silicon Valley, a region that typically leans Democratic. He hosted a fundraiser for Trump in San Francisco in June that raised more than $12 million for Trump’s campaign. Sacks often used his “All-In” podcast to broadcast his support for the Republican’s cause.

The fundraiser drew several cryptocurrency executives and tech investors. Some attendees were concerned that America could lose its competitiveness in emerging areas such as artificial intelligence because of overregulation.

Many tech leaders had hoped the next president would have a friendlier stance on cryptocurrencies, which had come under scrutiny during the Biden administration.

“What the crypto industry has been asking for more than anything else is a clear legal framework to operate under. If Trump wins, the industry will get this, and more innovation will happen in the U.S.,” Sacks posted on X in July.

The tech industry has also pressed for friendlier federal policies around AI and successfully lobbied to quash a California AI bill industry leaders said would kill innovation.

Sacks’ venture-capital firm, Craft Ventures, has invested in crypto and AI startups. Sacks himself has led investment rounds in many. He has previously invested in companies such as Slack, SpaceX, Uber and Facebook.

Sacks was the former chief operating officer of PayPal, whose founders included Musk and Peter Thiel . The group, called the “PayPal mafia,” has been front and center this election because of its financial muscle and influence in drumming up support for Trump.