CommBank has launched three new security features in the CommBank app to help combat scams and continue driving down customer losses.
In an Australian major bank first, customers can now easily use the CommBank app to see their digital wallets. With 7.3 million digital wallets now having CommBank payment details added, the ‘Review digital wallet’ feature allows customers to see all digital wallets their payment details have been linked to – and remove any they don’t recognise.
New interactive and intelligent warnings for first-time payments now provide enhanced protection for customers who may be unwittingly about to pay a scammer. Scam warnings, tailored to the type of payment the customer is looking to make, will appear in the app right before a customer sends their money.
New QR Cardless functionality will verify everyone who chooses to make deposits to or withdrawals from CommBank accounts using the CommBank app, instead of a card. The Bank has introduced QR Cardless to better protect the community from financial crime and allow for higher deposit limits for those who prefer not to carry cards.
“We’re committed to doing what we can to tackle the ever-changing scams and fraud environment. These extra security measures are designed to help disrupt scams and fraud, and ultimately make Australia less attractive to scammers,” said CommBank’s head of group fraud James Roberts.
“Having recently seen our customer scam losses halve over the last financial year we know what we are doing is having a positive impact, but there is more to be done”.
