Commbank is adding a Coronavirus Money Plan feature to its mobile app, pointing customers to relevant guidance and tools to help better plan and manage their finances.
CBA group executive retail banking services, Angus Sullivan, says the new tool will create actions and tasks suitable for a customer’s circumstances based on their level of impact during the health crisis.
“This latest feature is designed to help customers get back on top of their finances or adjust to a new situation by helping them assess their current situation, find additional resources for financial support, as well as how to build up an emergency buffer with the tools and features already available in the CommBank app.”
Users can tap on the app to pull up a cash flow view, claim money they might be entitled to with a Benefits finder, review bills and spending, tailor credit repayments, and create an emergency budget.
The new in-app feature comes off the back of recent data commissioned by CBA which revealed the changing attitudes and behaviours of Australians during the coronavirus pandemic.
Says Sullivan: “People are facing a new and challenging territory, both personally and professionally, causing them to feel overwhelmed and uncertain. This in-app feature is aimed at supporting our customers who are unaware of the simple steps they can take to get their finances back on track or adjust to a new situation and plan ahead.”