CommBank confirms its partnership with AWS on Cloud and AI themes

The CommBank Australia has just announced the wider opening of its previous partnership with Amazon Web Services (AWS), global leader in cloud services for the Amazon Group. This announcement reflects the common ambitions of both partners to expand the deployment of cloud and artificial intelligence technologies in banking services.

FACTS

• The Australian bank has recently formalized a new 5-year strategic collaboration plan with Amazon Web Services (AWS). AWS is committed to remain the main provider of CommBank Cloud technologies.

• But this rapprochement must also speed up their joint projects on the deployment of the latest technologies.

• The two partners point out, for example, that their joint work has already led to the realization of a service, with the launch in December 2024 of the CommBiz Gen AI courier service, which must offer a new banking experience to the tens of thousands of business banking customers of CommBank.

• They can take advantage of this messaging to:
  • making payments faster,
  • carrying out transactions with confidence,
  • extract information from more than 80 user guides and CommBiz FAQ.

ISSUES

• Simplifying the bank : This announcement represents, for CommBank, a new impetus for modernization of the bank's technological environment. AWS must help it accelerate the adoption of AI and provide end customers with access to new, optimized and secure experiences.

• Accelerating innovation : The modernization of the Cloud must indeed accelerate the adoption of AI. Moreover, CommBank states that its advances with AWS enabled it to reach more than 2,000 AI models in 2024, twice as many as in 2023. CommBank and AWS also point out that six weeks will be enough to develop and put the idea of CommBiz Gen AI into production. The two partners believe that this success is ensured in particular by the pooling of their expertise and by the effectiveness of the AI Factory.

PERSPECTIVE

• This announcement also represents a confirmation for the partnership the Australian bank and Amazon web Services. Commbank has been relying on AWS since last September, when the Australian Bank announced this collaboration with an innovation goal by opening its AI Factory. More specifically, the aim was to promote the dissemination of general AI in all the Bank's activities.

• Their new joint announcement once again underscores their ambition to democratize the uses of the latest technologies, modernize services and become leaders of the cloud and AI in their respective markets.

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