CommBank AI 'Companion' Pilots for Business Loans

Commonwealth Bank of Australia is pilot testing a new AI tool called CommBank Companion. This agentic AI will live inside its mobile banking app. It's designed to help customers with questions about goals like buying a home or managing finances, using their own information, completely human-free. What's interesting is this tool can take action as it answers questions, learning customer preferences. For example, a customer could ask how much a property is worth and how to reach deposit goals, receiving real-time answers. The companion would then guide them on saving. CBA says this is a big step beyond traditional chatbots. It’s currently being tested by 10,000 employees and select business customers. The bank plans to roll it out to thousands of retail and business customers by the end of June. This development could change how customers interact with their banking apps.