Social media can make financial institutions seem less dull and better engage customers, according to officials on a panel at the AB+F Retail Financial Services Forum.

The competitive threat posed to the Commonwealth Bank by the likes of Apple and Google is as great as that of its big three rivals, its chief executive Ian Narev says

The Internet is driving greater transparency of information but has also created more risk for corporations drowning in customer data, according to two legal experts.

Businesses must use technology to increase focus on the customer or risk failure, according to Commonwealth Bank CIO Michael Harte.

Recent core IT upgrades helped Commonwealth Bank of Australia launch a new investing website in less than nine months, CBA officials said at today’s launch of the MyWealth website.

The Commonwealth Bank has announced an upgrade of its customer service portal, NetBank, aimed at creating a single site, sign on and password to access a wider range of the bank’s websites and services.