Celebrating excellence: Commonwealth Bank of Australia triumphs at Qorus Reinvention Awards - APAC 2023

SME Banking
25/11/2023 News

Financial services firms globally are consistently showcasing their remarkable ability to innovate and leverage technology for business performance enhancement. The inaugural Qorus Reinvention Awards - APAC spotlights leading innovators in the Asia-Pacific (APAC) region, emphasizing outstanding products, services, and the creative teams propelling them ahead of competitors. The ceremony held in Bangkok on November 22 honored twenty-four finalists operating in diverse markets across various countries.

One standout recipient of recognition was the Commonwealth Bank of Australia, named SME Bank of the Year. The bank is actively supporting Australia's extensive small and medium-sized enterprises (SME) sector by offering a wide array of tailored products and services. Notably, the recently launched PayTo facility enables SMEs to collect payments in real-time, while a new cashflow dashboard on the CommBank mobile app provides business account holders with insights into monthly cash movements. To further aid SMEs in enhancing their business performance, the bank will soon integrate its Daily QI business insights dashboard into the CommBank app. Additionally, the Commonwealth Bank has developed green finance packages, encouraging small businesses to invest in energy-efficient equipment.

Michael Vacy-Lyle, Group Executive, Business Banking at Commonwealth Bank, expressed immense pride in the team's achievements, particularly the double recognition: CommBank secured the Gold award for SME Bank of the Year at the Qorus Reinvention Awards – APAC 2023, and the bank also received a prestigious award at the global Qorus-Accenture Banking Innovation Awards 2023. The bank was honored with the Gold award for Social, Sustainable & Responsible Banking for their 'Sustainability Action Tool (SAT),' which assists small businesses in embedding sustainability into their operations. 

Highlighting the crucial role small businesses play in driving innovation, job creation, and local character, Vacy-Lyle extended gratitude to Qorus for recognizing CommBank's efforts. He also thanked the bank's valued small business customers, emphasizing the ongoing commitment to supporting and empowering the SME community.

Related news & insights

ESG
26/02/2024 Article

A road less travelled: A UK taskforce is helping banks journey to net zero

The Transition Plan Taskforce set up by the UK Treasury has released a net zero disclosure framework that guides banks...

Insurance
26/02/2024 Interview

Inside the panel: Dr. Robin Kiera takes on Qorus Innovation in Insurance Awards

Dr. Robin Kiera is the CEO and Founder of Digitalscouting, a consulting and marketing agency based in Germany. Robin is...

SME Banking
23/02/2024 News

Griffin launches Foundations: BaaS integration for UK companies

Griffin, a leading UK bank and Banking as a Service (BaaS) platform, has introduced Foundations, an early access program tailored...

Digital Reinvention
22/02/2024 Article

Banking on the Cloud: 7 major banking trends for 2024

The 2024 Banking on the Cloud report combines insight from analyst firms and global consultancies with knowledge gained by working...

ESG
22/02/2024 Video

The gold standard for transition plan disclosures

Nathan Chan, Sector Guidance - ESG Strategy at the Transition Plan Taskforce (TPT), outlines the characteristics of an effective transition...

Digital Reinvention
22/02/2024 News

Tonik introduces 'Luv Stash' for couples: Joint savings made easy

Tonik Digital Bank is revolutionizing savings for couples in the Philippines with its latest offering, the 'Luv Stash.' This unique...

Digital Reinvention
21/02/2024 News

Revolut launches robo-advisor for automated investing in France

Revolut has introduced its Robo-Advisor service in France, offering automated investment solutions tailored to individual client needs. This innovative tool...

ESG
21/02/2024 News

ASB and Rewiring Aotearoa collaborate for Kiwi home energy transition

This partnership involves ASB financing a pilot study to identify barriers and opportunities for consumers in energy transitions, focusing on...