Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

‘We can disrupt and we are’, says CBA exec

A Commonwealth Bank executive has made it clear that Australia’s biggest bank is leading the charge in disruptive technology in the financial services space.

Speaking at a luncheon in Sydney this week, CBA group executive of institutional banking and markets Kelly Bayer Rosmarin said digital disruption is not something that is on the horizon – it is already here.

“If I have a look at how our customers interact with us, you go back five years and a lot more transactions occurred in a branch or maybe online,” Ms Bayer Rosmarin said.

Advertisement
Advertisement

“Now, upwards of 65 per cent of our transactions occur on a mobile phone or iPad in a mobile way,” she said.

The financial services industry is already changing shape, said Ms Bayer Rosmarin, adding that an organisation such as CBA is “very well placed to lead that disruption”.

“Obviously I think CBA is doing a great job of that in the technology space and it comes down to a culture that is not complacent, that is not in denial and that doesn’t rely on regulation or other things for its competitive advantage, but rather a culture that is completely focussed on customer service and adding value to customers,” she said.

Responding to Ms Bayer Rosmarin’s comments, fellow panellist and AMP digital director Michael Weeding said there is a big difference between innovation and responding to disruption.

“I think most organisations are very challenged to respond to disruption,” Mr Weeding said.

“The reason I say that is because disruption usually occurs at the lower end of the market, where the margins are small,” he said.

 

 

‘We can disrupt and we are’, says CBA exec
mortgagebusiness

Latest News

Firstmac managing director Kim Cannon is “disappointed” that Treasury rejected the non-bank’s proposed acquisition of Maleny Credit Un...

Asset finance group Consolidated Operations Group has announced that it will “scale back” its equipment leasing but will continue its as...

Half of Australian businesses have already been hit by the economic fallout from the coronavirus outbreak, with approximately 86 per cent ex...

FROM THE WEB
podcast

LATEST PODCAST: The rush to save small businesses

Do you think Australia will move to quantitative easing this year?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.