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CBA’s Kate Crous, x15’s Toby Norton-Smith, Cheddar’s Helen Hey. Source: CBA
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  • Commonwealth Bank (CBA) has launched a new online shopping app through its ventures business, x15ventures
  • The app’s MD says Cheddar directly targets Gen Z shoppers by offering a platform similar to TikTok that better engages customers
  • Cheddar is already available for Apple users, with an Android launch expected next year, while close to 600 retailers have signed on
  • The app is the latest online shopping offering from Commbank, which recently invested in gift card business Karta, online shop Little Birdie and BNPL business Klarna
  • Commbank is trading down 0.27 per cent at $107.72 per share

Commonwealth Bank (CBA) has launched a new online shopping app called Cheddar through its ventures business, x15ventures.

The big four bank explains the Cheddar app uses artificial intelligence (AI) to offer its customers new brands, discount deals, cashback rewards and digital content.

The new app is already available on the Apple store, with an Android launch set for next year, and has over 600 retails partners, including Pizza Hut and Cotton On.

Cheddar Managing Director Heley Hey said the app directly targets Gen Z shoppers by offering a platform similar to TikTok that better engages customers.

“We combine social discovery, AI-driven personalisation and cashback into a fun, seamless and rewarding shopping experience,” she said.

“We’ve built a platform that’s native to how Gen Z approach life, not just shopping — I like to think of it as ‘You do you, and we’ll sort the rewards’.”

The app is the latest online shopping offering from Commbank, which recently invested in gift card business Karta, online shop Little Birdie and BNPL business Klarna.

CBA’s Executive General Manager of Everyday Banking Kate Crous said they were investing heavily in blending banking with everyday shopping.

“We’re so excited to add Cheddar to our Shopping offering. By bringing banking, shopping and AI together, we aspire to provide our customers with trusted value-adding features and great offers to get more from their money,” she said.

Commonwealth Bank shares were trading down 0.27 per cent at $107.72 per share at 1:28 pm AEDT.

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