About
For You is a new feature in the CommBank App that offers customers relevant and personalised messages in one feed to help customers improve their financial outcomes.
Innovation presentation
For several years CommBank has been sending highly relevant and personalised notifications and messages to customers through our dedicated ‘Customer Engagement Engine’ (CEE). These notifications and messages are based on insights from customer activity; from reminding you of a previously-started product application, or prompting customers to activate a new debit card, to even wishing you a happy birthday. CEE manages 157 billion data points across interactions with more than eleven million customers, and runs 450 models in real time to make over 35 million decisions every day.
For You is a new feature in the CommBank App; introduced to customers in April 2021, it is powered by CEE. For You is a personalised feed of relevant notifications and messages for customers that are served in one location in the app, where they get the option to action.
The personalised feed is powered by what we know about the customer from their interactions with us, and include relevant communications to add value to their lives. The For You feed differs from how CommBank previously messaged customers as it provides a single, scrollable view of all messages for each customer. Instead of sporadic and repetitive messages that surface and then disappear, everything that matters to the customer is stored and can be found in one place.
For You includes cashback offers for where customers frequently shop, guidance articles relevant to their current needs, information about available product offers, new app features, community announcements, and more. Examples of messaging within For You include support around government rebates and how to apply to them, insights about upcoming bills and subscription expenses, same-day notifications on personalised support available, and how to claim insurance if they live in a natural disaster affected area.
The new For You feature also enables customers to bookmark notifications and messages to view later so they don’t lose track of messages that interest them.
Our results to date indicate the For You algorithm and feed is providing more timely and relevant information that customers want to find out more about. When we look at the uplift in how much customers are clicking through, or accepting, the messages we send, we saw an 11 per cent uplift as compared to non For You messages and notifications.
Uniqueness of the project
For You utilises CommBank’s Customer Engagement Engine (CEE); a decisioning engine that is able to deliver more relevant service and marketing messages to customers. Using CEE we are able to accurately personalise these messages based on the hundreds of interaction points our customers have with us. For You also enables the bank to experiment with various copy and imagery versions based on customer segmentation data and improve the customer experience.
CommBank is the only bank in Australia that employs the Customer Engagement Engine. We are also one of a few banks to use AI decisioning in determining what the most relevant messages for customers to help improve their financial outcomes. Our Customer Engagement Engine is known as the “brain” and utilises billions of data points and AI machine learning to determine what the next best conversation we should have with our customers to help improve their financial outcomes. We use data and interaction points to make sure the most relevant messages and information are presented.
CommBank is focused on meeting our customers’ financial needs as well as predicting customer needs. For You helps provide insight and actionable messaging that can help customers spend, save and grow their finances safely and intuitively.