13 February 2016

CommBank takes start-up approach to wealth portal roll-out

06 February 2013  |  5603 views  |  0 Sydney Modern Buildings

Australia's Commonwealth Bank says it took a start-up approach to the development of a new wealth management portal for self-directed investors that combines online banking with stock trading, property and portfolio investment, news and community forums all accessible via a single log-in.

Put together by a small team of inhouse developers from CommBank and CommSec and augmented by new hires, the MyWealth platform was released following nine months of customer centred design research. The bank says the start-up approach and fast time to market was made possible by its $1 billion core system upgrade undertaken over the past five years.

With more than three million self-directed wealth investors in Australia, MyWealth has been designed to make it easy for customers to research and invest in a range of financial products - all with one log-in. The site - available initially only on PC, but with a tablet-style interface - comprises an investment platform, stock market watchlists, hosted social communities, alongside financial news and educational features from a dedicated team of in-house journalists.



Stephen Karpin, executive general manager equities Margin Lending, Commonwealth Bank comments: "We have integrated the key elements of investing from across CommBank and CommSec as well as other media elements such as news and community, in one, always-online destination for investors."

Written in HTML5, the site also has a complementary API that external developers could use to add additional portfolio management tools not provided by the bank. This is set to be made available in a future release once the bank has determined the necessary approval process.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

10 January, 2013
15 August, 2012
17 July, 2012
05 July, 2012
28 May, 2012
16 February, 2012
05 December, 2011
25 October, 2011

Related company news

 

Top topics

Most viewed Most shared
UK sets out open banking API frameworkUK sets out open banking API framework
15555 views comments | 100 tweets | 89 linkedin
Deutsche Bank calls for co-operation with fintech firms on B2B servicesDeutsche Bank calls for co-operation with...
8472 views comments | 28 tweets | 30 linkedin
How to accelerate your fintech startupHow to accelerate your fintech startup
8110 views comments | 34 tweets | 9 linkedin
Is Paym a failure?Is Paym a failure?
6877 views 16 comments | 23 tweets | 16 linkedin
Visa issues API to offer consumer control over card transactionsVisa issues API to offer consumer control...
6338 views comments | 17 tweets | 28 linkedin

Featured job

Competitive Package
New York City, NY. USA

Find your next job