PT. Bank Commonwealth, the Indonesian subsidiary of Commonwealth Bank of Australia, has announced the enhancement of its CommBank SmartWealth app with the addition of another Wealth Management solution, eSBN.
eSBN allows PT. Bank Commonwealth (PTBC)’s clients to trade Indonesia government bonds in a convenient and user-friendly manner through the SmartWealth app; the runs on additiv’s Digital Finance Suite platform.
PTBC plans to further strengthen its position as an innovator and leader in Wealth Management in the Indonesian market by launching additional product offers though SmartWealth over the coming months.
PTBC’s Head of Wealth Management and Client Growth, Ivan Jaya, stated that “eSBN as an additional service of SmartWealth will further strengthen client engagement, as it will allow our clients to buy and sell Indonesian government bonds over our innovative (Commonwealth Bank of Australia’s) SmartWealth app.”
Rajesh Narayanan, PTBC’s Head of Information Technology, added that “The rapid growth in the size of the mass affluent segment across Indonesia is reshaping demand for how financial services are delivered and used – PT. Bank Commonwealth in combination with additiv’s industry leading DFS platform is providing for that.”
additiv’s Managing Director for Asia Pacific, Bert-Jan van Essen, commented further that “Local incumbents and foreign challenger banks must adapt to seize the new opportunities by giving South-east Asia’s mass affluent more of what they want. PT. Bank Commonwealth as an innovator in Wealth Management in Indonesia is exactly doing that with SmartWealth which is powered by additiv’s Digital Finance Suite.”
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