Commonwealth Bank of Australia will offer discounted broadband to its banking app users, as the nation’s largest bank uses its scale to add services and push towards a platform business.
CBA will acquire a 25 per cent equity stake in More Telecom and Tangerine, NBN providers with a combined 90,000 customers. CBA will then offer its 7 million app users special telco deals.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
