CBA tackles disaster response with 'smart data model'

CBA is using custom-built algorithms to keep track of natural disasters and bad weather events across Australia in order to offer same-day assistance to impacted customers.

The bank said its algorithms monitored multiple data sources "from official emergency sources and weather alert systems to offer same-day 1:1 support to those customers impacted by natural disasters."

The bank then uses its Pega-powered customer engagement engine (CEE) to "connect with customers who may be impacted and also offer support that aligns to their needs, such as deferring a loan or offering an emergency overdraft," chief analytics officer Dr Andrew McMullan said in a statement.

CBA said it could identify customers via postcodes recognised as being in the path of a large weather event.  

“Natural disasters can come out of the blue, and whilst sadly we can’t prevent them, we can help notify customers so they can prepare, as well as offer affected customers immediate and personalised support,” McMullan said.

“When a natural disaster hits we know that time is a luxury, so our new automated monitoring system allows us to respond to customers with far better speed, accuracy and personalisation than manual reporting allows.”

The bank said it used the technology to offer support to 80,000 customers impacted by the Perth bushfires.

CBA has been ramping up its technology offerings of late including investing in its digital strategy to grow its data, machine learning and artificial intelligence capabilities.

Most recently, CBA spoke on the importance of dispersing data scientists across all of the bank’s operations as it focuses on AI-driven solutions.

During an AI Australia by Eliiza podcast, chief data scientist Dan Jermyn said the bank had divided its AI and data operations between embedded capabilities and a more centralised AI Labs team.