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Commonwealth Bank focused on innovating amid pressure from fintechs


Commonwealth Bank of Australia (CBA) CEO Matt Comyn has said his bank is committed to spending big every year on technology to deliver the best banking experience, in a market where fintechs are starting to ruffle the feathers of the big four.

Facing the House Standing Committee on Economics on Friday, Comyn was asked what single fintech innovation would most benefit Australian banking consumers over the coming years.

See also: Why Westpac is making 'frenemies' with fintechs (TechRepublic)

"That's a very difficult question to answer," he said. "Clearly, there's a number of new entrants into the market … certainly ...


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