Make a Bank Deposit: Your Ideas

December 7, 2011 By IdeaConnection

Banks try to prove that they are listening to the wishes of their customers, but one bank in Australia has decided to take the concept a little further.  The Commonwealth Bank Group is asking its customers to help it create and shape the future of banking.

Today sees the official launch of their IdeaBank, an online interactive platform for anyone to post ideas and make suggestions about how they think banking should evolve. Participants will also be able to discuss and debate ideas, and bring the best ones to the attention of the bank.

“Technology has played a critical role in our past 100 years of Banking, helping us grow and continually improve, therefore it’s only natural that we continue to invest in this channel to both differentiate our brand and offer stand out customer service, experience and now contribution,” Andy Lark, Chief Marketing and Online Officer at the Commonwealth Bank, said in the press release heralding the idea generating platform’s launch.

In a neat nod to the power and wisdom of the crowd the bank concedes in its advertising that the best ideas won’t come from inside the bank, but from the customers themselves.

Prize Money

Ideas can be about anything, from the way people invest, spend and manage their money to the next technology project or product. The Ideabank will be open until March 2012 when customers and bank bosses will vote on the most popular idea for a $10,000 prize.

If an idea is accepted bank staff and resources will be allocated to work on it, and then the product will be released to customers via My NetBank Labs. This is a portal that allows customers to test and try out products before they are launched onto the market place.

The Commonwealth Bank IdeaBank welcomes ideas from anyone in Australia. To register and take part visit:

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Reader Comments

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Posted by Palma on June 26, 2017

I love your idea! As a victim of USA bank mismanagement/fraud/id theft , I applaud your efforts to find answers rather than conceal the problems. I would like to participate in your prize offering but I live in the USA. I understand that the requirements are to live in Australia.

I have lots of ideas with serious solutions. IN the USA, The bank contributed to my id theft, home and business burglaries, and more which I call the Worst Case of ID Theft in USA History. Some information can be viewed at
I had two medical businesses at that time and banked with a new bank in Virginia, mistake!

I have lots of solutions for banks but many Banks seemed to have jumped on the tech band wagon without being properly trained. nor the police knew/know how to handle or even look for problematic areas. The FDIC is on the Bank's side not the public and the business accounts are not even protected according to one of our Senior Ranking Finance Committee Banking Representatives. It seemed a few years ago, banks/people risked their money on new technology and the security of the same rather than having everyone involved trained properly. However the thieves knew the ins and outs and the banking industry. The thieves knew the ways around the banking system and knew it extremely well.

Bravo to you for looking for solutions. I wish I had a bank like your when I had my medical equipment businesses.

Again, I have many suggestions and know tons of weaknesses that banks have to overcome. If I know, I feel the hackers, con artists, and thieves know it too.
Thanks for your innovation in seeking out solutions and not burying your head in the sand.
Jane Meadows, M.S.
Posted by Jane Meadows, M.S. on December 15, 2011

What a brilliant idea - Go Commonwealth Bank!
I am a firm believer that true innovation is not a top-down process and therefore must arrive from the people. I think that by initiating this idea the bank is performing a truly innovative servive to both itself and its customers. I only wish more banks would follow suite.
Posted by Product Innovation on December 10, 2011

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