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CBA uses tech prowess to lure younger customers, keep fintech rivals at bay – Sydney Morning Herald
CBA said it aimed to increase engagement with customers, including via partnerships with an online retail website and an energy retailer.
While some analysts have praised CBAs approach to technology compared to that of rivals, Evans and Partners analyst Matthew Wilson said CBAs presentation looked like digital lipstick.
He said the new initiatives appeared aimed at making retail banking customers more sticky. He said the key challenge facing large incumbent banks like CBA was the emergence of new competitors such as Afterpay, which fundamentally changed the user experience.
Legacy providers of retail banking could be fighting a path…
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