CBA opens high-tech branch in Brisbane

Commonwealth Bank launched a “development” branch in the Brisbane CBD yesterday. It also confirmed plans to open eight new Queensland branches this year and more next year. The branch, at 240 Queen Street, Brisbane, is full of interactive tools and advanced ATMs that may or may not find their way into the wider branch network later on.

Commonwealth Bank’s group executive for retail banking services, Ross McEwan, said: “We are using this branch to have a go at some new things and we accept that some things will fail.” The Brisbane development branch is an experiment in integrating electronic and physical services.

CBA’s executive general manager for retail sales, Lyn McGrath, said a lot of NetBank customers stuck to a few basic inquiry and transaction options. Branch staff would use the battery of in-branch computers to educate customers in other electronic banking functions, she said.

At the new Brisbane branch, a series of touch-screens gives customers information on products, lifestyle information, calculators and event notices. It features iPads and other hardware for transacting and browsing. Commonwealth is also running what it calls NetBank labs, where it invites customers to try out new services.

Source: Banking Day