The new frontier: Bank to offer discount broadband services

Australians are used to the idea of internet banking, but are they prepared for purchasing the internet from their bank?

The Commonwealth Bank has teamed up with internet service providers More Telecom and Tangerine as part of a plan to offer discounted NBN and broadband services to customers.

The Commonwealth Bank’s retinal banking executive Angus Sullivan said the expanded services would offer customers an opportunity to save money of their telecommunications expenses.

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“We’re looking at how we can help save customers money with their everyday bills and commitments, and our decision to partner with More Telecom and Tangerine highlights how we’re continuing to reward our customers,” Mr Sullivan said.

“As the country’s biggest supporter of getting Aussies into homes, we are reimagining banking for our customers, creating more value for them, putting more money back in their pockets, and helping them save money by exposing them to new ways of doing things and new quality products and services.”

“The average monthly cost of internet in Australia is one of the most expensive in the world and we are uniquely positioned to help customers manage these costs.

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“We will do this by utilising our technology to provide personalised offers via the CommBank app to those customers we know will benefit from switching broadband providers.”

The announcement of the Commonwealth Bank entering the broadband market as part of this deal adds to the bank’s recent decision to partner with Little Birdie and Amber to enable customers to save when shopping for deals and selecting an energy provider.

Mr Sullivan explained that all of these decisions were based around enabling the bank to offer value to its retail customers. 

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“Our partnerships with Little Birdie, Amber, and now More Telecom and Tangerine, are core to the way we help our customers find great deals and save them money,” Mr Sullivan said.

“These partnerships initially focus on our 11 million retail customers, 7.5 million of whom are digitally active, and underscore the unique and compelling value of banking with the Commonwealth Bank.”

Mr Sullivan confirmed that some broadband services would be integrated into the CommBank app over time.

“The integration of More Telecom and Tangerine into the CommBank app will give our customers greater control over their finances, in future potentially allowing them to view their NBN or broadband plan, usage and upcoming bills in one place,” Mr Sullivan said.

“This partnership supports our ambition of providing our customers with one of the best digital experiences of any company globally.”

Would you be prepared to purchase broadband or NBN services from your bank? Why not share your thoughts in the comments section below?

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Written by Ben



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