SYDNEY – Commonwealth Bank of Australia (CommBank) has entered into a multi-year strategic partnership with OpenAI to develop generative AI-enabled banking solutions for customers and employees. Under the agreement, CommBank becomes OpenAI’s designated banking partner in Australia, with engineers from both organizations collaborating on AI applications for scam and fraud detection, as well as more personalized customer services.
CommBank employees will gradually gain access to OpenAI’s enterprise-grade AI tools, including ChatGPT Enterprise, supported by comprehensive training and upskilling programs to ensure responsible use. The partnership aims to bolster Australia’s AI competitiveness and deliver world-class banking innovations.
OpenAI CEO Sam Altman highlighted the opportunity to “put advanced AI into the hands of more Australians,” while CommBank CEO Matt Comyn emphasized AI’s potential to enhance customer protection, improve experiences, and create new opportunities for Australian businesses.
The announcement follows CommBank’s recent AI-driven security upgrades, including a generative AI scam detection tool within its Truyu app and enhanced card transaction verification in its mobile banking app.
