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Commonwealth Bank initiative to assist small business

The Commonwealth Bank hopes to improve its relationship with the small business community after announcing the relocation of specialised teams of business bankers to select retail branches.

The project will be undertaken over the next 12 months across 16 retail branches in New South Wales, South Australia and Western Australia. The Commonwealth Bank made the decision in response to customer and market demand for over-the-counter business and retail transacting services.

Bernard Tanner, Chief Operating Officer, Local Business Banking, said, “We know that our small business clients frequently use the branch channel in a similar fashion to a retail customer.”

Tanner believes the initiative will benefit small business clients with a greater level of convenience and collaboration between the client and their relationship manager.

“We have reviewed policies and procedures, invested in technology and expanded our national business banking footprint to cater for the needs of the small business market.

“The new model provides small business customers with the level of service they require and provides a structure that allows the Bank to improve its customer interactions,” Mr Tanner said.

The program will be extended into more branches if the first phase proves successful.

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Veronica Joseph

Veronica Joseph

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