Commonwealth Bank – My Property
Commonwealth Bank – My Property has been selected as an ABA100 Winner for New Product Innovation in The Australian Brand Awards 2019. The Australian Brand Award for New Product Innovation [NEW] recognises innovative consumer products recently launched to market offering a point of difference from their competitors.
Commonwealth Bank has a proud history of delivering innovative digital experiences that delight our customers. The company’s digital technology gives customers the flexibility to access, track and manage their money on a range of devices securely. From banking on the go using the CommBank app, to completing more complex tasks in NetBank or paying with wearable or digital wallet.
Commonwealth Bank has a broader focus on digital experiences, which includes home loan customers. This approach provides customers with little insight around some of the bigger questions like ‘how much equity do I have’, ‘how is my property performing’, ‘how much can I afford’ or ‘what options are available to me’. This approach also requires heavy reliance on Lenders and Brokers to fill the gap.
CommBank is redefining the way customers view, track and manage their home loan and property digitally. My Property provides customers with personalised property insights that dynamically change over time, allowing customers to track and manage their property portfolio, plan for the future and explore options available to them.
Key features of My Property include: personalised and dynamic equity position; calculation to help customers understand the value in their property portfolio; personalised property insights to track performance; access to checklists, tools and articles for every step of the property journey; property search capability, in partnership with Domain group; affordability calculators including borrowing power, repayment and upfront cost; direct access to a lender and ability to digitally book an appointment with your lender; ‘manage your loan’ section that helps customers digitally self-serve.
The Australian Brand Awards are an annual comprehensive awards program which recognises the most innovative consumer brands via a set of established award categories. The Australian Brand Awards are open to all domestic and international consumer products available in the Australian marketplace.
The Australian Brand Awards are the national chapter of an integrated innovation initiative conducted on a national and international level. The Australian Brand Award recipients will participate in the international chapter of the program at the World Brand Awards whereby participants are provided with the unique opportunity to benchmark themselves against the top performers globally.
Entry is open to all domestic and international consumer products available in the Australian marketplace. Products can include but are not limited to goods, services, devices, equipment, programs and activities from any of the following main product types: Electronics & Communications, Home & Garden, Beauty & Wellness, Fashion & Lifestyle, Food & Beverage, Sports & Fitness, Entertainment & Recreation, Travel & Leisure, Baby & Children’s products.
Products must be commercially available on the Australian market and comply with all applicable Australian standards and regulatory requirements prior to entry. Prototypes or products still undergoing trials are ineligible to enter.
The World Business Awards Framework (WBA Framework) is utilised as a structured model of assessment that enables the participating organisations to be benchmarked against world class performance standards.
The Framework consists of specialised assessment modules pertaining to the evaluation criteria for each of the award categories. The criteria and sub-criteria provide a robust set of requirements that are used as the methodology for benchmarking and learning among the participating organisations.
Entrant organisations are required to demonstrate their achievements across the key areas of research and development, product innovation, user experience, product features and benefits.
The program provides a notable opportunity for high-performing companies that produce world-class consumer products to be acknowledged and celebrated for their achievements both nationally and internationally.
Conducted annually, the awards seek to recognise the world’s most innovative consumer brands and to review their business performance through a global recognition and knowledge building initiative that is underpinned by the program’s established framework.
The program provides the ultimate platform for building knowledge, increasing brand awareness, equity, loyalty and retention through increased exposure, recognition and prestige.