When CommBank Delivers Financial Education Lessons

Australian Bank Commonwealth Bank A few days ago, a new program was launched to improve the education and financial health of Australians. Named CommBank Financial Fitness, this program is offered free of charge to all and aims, for the bank, to strengthen its customer relationship as well as to capitalise on a brand image committed to potential prospects.

FACTS

• The CommBank recently supported a new free program: CommBank Financial Fitness. In form, it takes over the model of fitness programs. In essence, it aims to improve the purely financial health of its target.

• Open to all, however, it is particularly aimed at individuals and Australians wishing to improve the management of their personal finances.

• It was designed in partnership with Jess Irvine, a financial journalist, and offers between 4 and 8 online lessons in 5 categories:
  • Save, to put money aside and find tips to cut spending and increase revenue,
  • Dream, to set significant financial targets and realize projects,
  • Know, to better control and manage its cash flow,
  • Grow, to ensure the growth of its heritage,
  • Protect, offering advice for overall protection.

• More than a purely theoretical content, the CommBank Financial Fitness provides practical advice for everyone.

ISSUES

• Improving financial health This initiative is approaching in the form of fitness programs dedicated to physical health to emphasize the importance of large-scale financial well-being. More than a playful approach promoting a gamed campaign (as often proposed to younger people to engage them), this programme is more serious and concrete and carries the promise to participate in improving the lives of its beneficiaries.

• Customize in a global approach: The approach is being proposed today by the Australian bank in support of the objective of enabling programme beneficiaries to adopt good practices in managing their personal finances. CommBank intends to offer content that is valid for everyone but that can serve them in a quasi-personalized way. He is thus distinguished from the model chosen by BoursoBank via Bourso Campus a few weeks ago, which insured for its part, the improvement of the overall financial culture of the French as part of its free and inclusive program.

• More than a commercial bank : The Commonwealth Bank Work hard to build the image of a financial organization above the commercial bank model alone. Its ambition is indeed driven by its commitment to present itself as an active support for the improvement of the financial situation of all parts of the economy (individuals as professionals).

PERSPECTIVE

• On the margins of its new CommBank Financial Fitness, the Australian bank also had, at the beginning of the year, a training programme, always freeto help managers improve their knowledge of cash management. These online courses were then offered in collaboration with an Australian university.

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