CBA boosts the bank’s AI capabilities to generate better customer and community outcomes, at greater pace and scale
Company Size
1,000+
Region
- Pacific
Country
- Australia
Product
- H2O.ai’s AI Cloud
Tech Stack
- Artificial Intelligence
- Machine Learning
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Analytics & Modeling - Machine Learning
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
- Sales & Marketing
Use Cases
- Demand Planning & Forecasting
- Predictive Quality Analytics
Services
- Data Science Services
- System Integration
About The Customer
Commonwealth Bank is Australia's largest bank and provides a variety of financial services including retail, business and institutional banking, funds management, superannuation, insurance, investment, and broking services. The bank is known for its strong domestic business banking franchise and leading retail banking business. It has a diverse customer base and operates in a variety of sectors. The bank is committed to building an AI-powered organization for the benefit of its customers and aims to be one of the highest quality, lowest cost sources of leads to its business customers.
The Challenge
Commonwealth Bank was looking to enhance its AI capabilities to provide more personalized and relevant experiences for its customers. The bank wanted to decrease the time to prototype new models from weeks to just 2 days. The bank was also looking to scale machine learning across the entire organization, including data scientists and business users. The bank was seeking a solution that would allow it to better help customers find personalized and relevant offers to save money while they shop across platforms like Little Birdie, Karta, CommBank Rewards, and Klarna, while at the same time driving sales for merchants.
The Solution
Commonwealth Bank formed an exclusive partnership and took a minority stake in H2O.ai, a global leader in Artificial Intelligence (AI). As part of the partnership agreement, Commonwealth Bank will provide H2O.ai’s state-of-the-art AI Cloud to its entire organization, including data scientists, data engineers, and business users. The bank will gain a dedicated H2O.ai team of experts, including industry-renowned ‘Kaggle Grandmasters’, machine learning engineers, and product specialists, to work full time on developing new AI solutions within the bank. Commonwealth Bank is now H2O.ai’s exclusive financial services partner in Australia and New Zealand, and provides the bank with access to top international talent to assist in working on the bank’s highest value customer needs.
Operational Impact
Quantitative Benefit
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