CBA has launched the PowerBoard ecommerce solution to merchants deploy their ecommerce offerings and provide access to various payment methods. The solution essentially gives merchants access to payment orchestration features through payments acquiring, multi-gateway capability, a payment options menu, and an innovation roadmap that can help to future-proof their business.

PowerBoard was created in partnership with fintech and payments orchestration platform Paydock, which means that it complies with modern security, fraud, data, and cyber standards. Some of the solution’s highlights include the ability to monitor real-time transactions and a simple interface that can be used to switch features on or off. PowerBoard can integrate with five different payment methods, namely digital wallets, Buy Now, Pay Later, domestic payment methods such as EFTPOS and PayTo, digital gift cards, and traditional card payments.

Services related to logistics and multi-currency will be added at a later date. Other technology integrations simplified by PowerBoard include improved security tools that support merchants in detecting and preventing fraud. CBA representatives cited by commbank.

com. au highlighted PowerBoard’s role in helping their business customers create better experiences for their own customers. They also revealed plans to expand the offering in the coming months.

In turn, Paydock officials emphasised PowerBoard’s role in removing cost, complexity, and risk from numerous integrations, and how its single API and platform can increase security, simplify back office, and reduce service availability risks. One of the first companies to integrate the new ecommerce solution is the Sydney Zoo. Sydney Zoo officials stated that PowerBoard has helped them offer more options for their guests while reducing costs and the time needed to integrate each aspect and inclusion of multiple payment methods.

CBA leverages AI tech to protect customers from fraud In July 2022, Australia-based Commonwealth Bank (CBA) has introduced a new AI-based technology to detect suspicious and unusual behaviour on its digital banking platforms. The new tech aims to protect customers and keep them safe by alerting them to potential scams. The system uses machine learning techniques to track unusual changes in the way customers normally interact with their devices, and it represents a bank extension to CBA’s scam and fraud protection strategy.

The launch of this new system aligns with the bank’s ‘protect, detect, and resolve’ approach that aims to identify irregularities and quickly notify users against potential malicious behaviour, while also shutting down any activity that hasn’t been previously authorised by the client. .