Commonwealth Bank has taken its home ownership “platform” concept a step further with the announcement of a strategic partnership with property management company :Different.
CBA has been adding complementary services to enhance its home loan offering, including Home-In, a digital conveyancing service; Amber, which provides access to whole energy pricing; NBN service providers More and Tangerine; and its own Green Loans offering, which provides funding for solar panels and household energy storage at low rates.
The bank has also announced the launch of a fully digital home loan business, unloan, which has not yet come to market.
The latest addition, :Different, provides property management services for residential property investors. Services include expense management, streamlined reporting, managing maintenance requests and rental advances.
CBA group executive retail banking services Angus Sullivan said the bank had learned through customer feedback that managing rental properties is “a real pain point”.
Sullivan said :Different will be available through the CommBank app, with the launch date some time later this year.
The partnership with :Different is being managed by CBA’s venture company x15ventures, with CBA taking a minority shareholding in the business.