Independent research firm Forrester has named Commonwealth Bank as the leader in mobile banking in Australia for the third consecutive year.

Released this week, The Forrester Banking Wave™: Australian Mobile Apps, Q2 2019 report has cited CommBank app’s great user experience, and features that help customers manage their finances.

“Commonwealth Bank’s mobile banking app combines good functionality with best-in-class usability that centres on easy navigation, clear design, and high-quality content that shows customers how to achieve their goals.”

“…The bank uses its app to educate customers – customers can see their monthly spending habits, drill down into specific categories, and see how they compare across months. The bank also provides information about budgeting, retirement planning, and superannuation,” the report says.

Commonwealth Bank Chief Digital Officer, Pete Steel said: “We are pleased to see CommBank app has once again been named by Forrester as a leader among Australian mobile apps.

“Our focus remains on continuing to deliver experiences that are helpful, innovative and secure for our customers, without sacrificing the functionality and ease of use.

“As Australians increasingly choose to bank online, we will not only have to continue to adapt to their preferences, but ensure we are using digital innovation to build trust with our customers and provide simpler, better banking.”

Commonwealth Bank has recently announced a redesign of the CommBank app, which will offer its 5.3 million users a completely personalised digital banking experience, continuing its focus on helping customers make better financial decisions.

The first iteration of the app was launched in 2011. Eight years on, the CommBank app boasts more than 5.3 million unique users, and more than 6.5 million log-ons per day.

Commonwealth Bank was recently awarded CANSTAR Bank of the Year for Online Banking 10 years in a row, and Mobile Banking for the fourth consecutive year.

Forrester conducted its digital functionality and user experience reviews of five Australian mobile banking apps between 4 February and 8 March 2019. In the evaluation, Forrester assesses two major elements of a bank’s digital experience: functionality and user experience.

Forrester scored the apps across 36 functionality and 26 user experience criteria using a heuristic evaluation based on personas and scenarios defined to reflect bank customers and their needs. For more information on the methodology that every Forrester Industry Wave follows, please visit The Forrester Industry Wave™ Methodology Guide.

Commonwealth Bank was among the select companies that Forrester invited to participate in its Q2 2019 Forrester Banking Wave™: Australian Mobile Apps evaluation. In this evaluation, Commonwealth Bank received the top scores in several criteria, including user experience, search and navigation, content, functionality, login and security alerts, money management and assisted service features.

About CommBank app’s leading features

• Benefit Finder: currently piloted in New South Wales and Victoria, this feature helps customers find and claim rebates they may be entitled to, potentially saving Australians between $40 and $150 million once fully rolled out.
• Smart Alerts: alerting customers when their credit card payment is due, when they’ve overdrawn their account or completed a high-cost credit card transaction (such as an ATM cash advance) to help avoid fees.
• Goal Tracker: helping customers save on a regular basis prompting them to set a personalised savings goal and breaking it down into weekly targets.
• Regular payments: giving customers a list of all the regular payments coming out of their accounts each month so they can identify savings opportunities (like forgotten subscriptions)
• Cash Flow View: giving customers a view of their total monthly income, spending and savings across transaction, deposit and credit card accounts, allowing them to gain a deeper understanding of their holistic financial situation.
• Spend Tracker: a feature in the CommBank app that categorises every debit and credit card transaction, making it easier to see the impact your spending decisions have on your everyday finances.