CommBank has launched a media network that opens up its physical and digital media channels to partners and advertisers – a first for the financial services sector.
CommBank Connect will deliver “relevant and compelling content to retail and business customers”, providing a platform for partners and advertisers to reach CommBank customers in branch and across its suite of digital channels.
As part of the initiative, CommBank will enhance its digital merchandising screens in its branches and owned media ecosystem to improve the customer experience with engaging content and enhanced communications channels.
Foundation launch partners include Qantas, Myer, ConnectID from Australian Payments Plus and the Kit pocket money app.
There are currently around 11 retail media networks with an “explosion” of other mid-tier retailers expected to launch their own networks in the next few years. Retail media is now more than a $1 billon category for Australian retailers, and could grow as high as $3 billion by 2027, according to the PwC Global Entertainment and Media Outlook 2023 report.
Although not a retailer, CommBank is the first financial services business to enter the space of commercialising its network of owned media assets.
The bank said CommBank Connect will be one of the largest small-format networks across metropolitan and regional Australia, expanding to include more than 2000 digital screens across the country’s largest branch network in 2025.
The network will be powered by CommBank IQ using CommBank’s de-identified transactional data of 7 million Australians and more than 100 CommBank custom segment insights to deliver customer relevance.
“The launch of CommBank Connect is a significant step for CommBank, as we improve our customers’ experience and deepen the connection between content and commerce. We know leading global brands are growing their owned media channels to deliver more dynamic, relevant, and valuable experiences,” CommBank CMO Jo Boundy said.
“We’re excited to be enhancing our digital and physical channels to better support our partners and advertisers in reaching our customers, who can then connect more effectively with the brands they love.”
Owned media evolution
The roll out of CommBank Connect is the next evolution in CommBank’s owned media, channel and content strategy, which includes:
- The Brighter content ecosystem – launched in 2023 with Brighter magazine available in branches, digitally, on social media and video platforms. It expanded in 2024 with the Brighter Side TV series. Both the magazine and TV series offer content on money management, cost-of-living support and financial confidence, with tips and inspiring stories to help Australians better manage their finances and plan for a brighter future.
- CommBank Yello – launched in 2023 as one of Australia’s largest customer recognition programs. It delivers value for customers with benefits such as cashback, partner offers and exclusive access to events.
- CommBank’s in-house creative agency – launched in 2024, it leverages deep brand knowledge to produce world-class creative content.
“We’ve seen our partners successfully connect with potential customers in CommBank Yello, offering them exclusive benefits from some of Australia’s favourite brands. Now, alongside our Brighter content, CommBank Connect will extend this ecosystem,” Boundy added.
“We want to build deep, trusted relationships with our customers, and we’re well positioned to enrich their experience through owned media channels and by leveraging our scale and broad reaching customer communication infrastructure.”
Nick Smith, Medium Rare Content Agency’s managing director said: “Our strong partnership with CommBank has been key to building the Brighter financial well-being content ecosystem across TV, print and digital channels, now extended to the physical branch network.
“As the advertising sales and content partner for CommBank Connect, we’re excited to use our experience in creating sustained, engaged audiences for Australia’s most iconic brands. With CommBank Connect’s scale and intelligence, we’re set to drive deeper engagement for brand partners and create more meaningful connections for customers.”
