Commonwealth Bank of Australia has upgraded its benefits finders tool to help struggling companies understand and connect to state and federal Covid-19 support measures as the country enters a new state of lockcdown.
Developed as part of an ongoing collaboration between CBA and Harvard University’s Star (Sustainability, Transparency and Accountability Research) Lab, the search tool currently has more than 320 benefits and rebates available for both personal and business customers to claim.
Accessible via the CommBank app and NetBank, customers are asked to answer five simple questions, with answers determining what benefits or rebates they may be eligible to claim. The feature provides an overview of each eligible support measure, including how much they may be able to claim and the steps to apply before being directed to the relevant website to start the application.
Since its launch in September 2019, the bank's personal customers have commenced more than one million claims via the digital feature and saved more than $481 million.
CBA group executive business banking Mike Vacy Lyle says: “Businesses know that support and benefits are available, but understanding eligibility and accessing them can be overwhelming. We’ve moved quickly to update our benefits finder digital feature to make that process easier and help business owners understand what is out there, what they are eligible for, and access what they need sooner and more efficiently.”