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CBA to seek ideas with IdeaBank

CBA to seek ideas with IdeaBank

Consumers can submit ideas for apps, products and services

CBA chief marketing and online officer, Andy Lark.

CBA chief marketing and online officer, Andy Lark.

Developers and consumers with concepts for new banking applications could be $10,000 richer if the Commonwealth Bank of Australia (CBA) chooses their idea submission to its new website, IdeaBank.

Set for launch on 8 December, the website will allow Australians to post ideas and suggestions on how banking could improve ranging from better customer service to ideas for smartphone apps. The creator of the most popular idea, which will be voted upon by CBA customers and the bank’s management team, will be awarded $10,000 in prize money in March 2012.

CBA chief marketing and online officer, Andy Lark, said in a statement that the organisation developed IdeaBank to better collaborate with its 10 million customers.

“Technology has played a critical role in our past 100 years of banking, helping us grow and continually improve. Therefore, it’s only natural that we continue to invest in this channel to both differentiate our brand and offer improved customer service.”

He added that the website was a long-term initiative and would diversify in 2012 to include more categories across banking and financial services.

It follows the launch of a website in August called Investorville which was targeted at existing home owners who wanted to invest in real estate, as well as consumers who already own an investment property.

CBA has also ventured into the smartphone app space and unveiled Kaching in October, a banking application for Apple iPhones that allows users to wirelessly pay for goods and services using NFC (Near Field Communication) technology.

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Tags collaborationCBAcrowdsourcingideabankAndy LarkkachingInvestorville

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