The Commonwealth Bank of Australia (CBA) has announced a “refresh” to its digital strategy, one that CEO Matt Comyn said would help his bank provide one of the best digital experiences of any company, globally.The bank in October 2019 announced it was pumping more than AU$5 billion into technology over a five-year period. On Thursday, Comyn said that number was “continuing to increase”. “We’re prepared to invest in our business where we see opportunities … we’ve got a whole ambition in this space and it’s going to require investment,” he said.One such investment is the bank’s Customer Engagement Engine. The Customer Engagement Engine is running about 400 machine learning models and ingesting about 157 billion data points in real time. Comyn said CBA is using the tool to “coordinate activity and actions to serve up to customers”.”The Customer Engagement Engine, in terms of throughput, is delivering about 35 million decisions per day, it’s done in real time, in less than 300 milliseconds for each of those decisions,” he said.”The scale of that is impressive, but actually what’s most important is the value we can then serve up to our customers.” One example was using the Customer Engagement Engine to serve… Read full this story
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