Business Chief APAC+ANZ Magazine July 2014 | Page 42

03 Commonwealth Bank of Australia
TOP 10

03 Commonwealth Bank of Australia

The Commonwealth Bank of Australia began taking innovation seriously in 2011 with the establishment of their Innovation Academy . The main goal of this organisation within the business is to allow a venue for staff ideas to be refined to the point where they can apply for internal seed capital . MyWealth , described as “ your
personalised investment hub ,” claims to be the first service providing a single portfolio view for self-directed investors . The mobile app won at the Innovation Awards in 2012 , and much of the program ’ s success can be attributed to Lisa Frazier , CBA ’ s executive general manager of digital channels . She employed six journalists to work just in the MyWealth capacity ; they provide personalised financial news and are responsible for the social media portion .
42 July 2014