additiv, a global leader in FinTech and embedded finance, is excited to announce the renewal of its long-term partnership with PT Bank Commonwealth for the continued development and support of the CommBank SmartWealth platform. This partnership renewal emphasises the commitment of both parties to enhancing the digital wealth experience and accelerating financial business innovations for the Indonesian market.
The CommBank SmartWealth platform, originally launched in 2018, has consistently set new standards for digital wealth management. It has won multiple awards over the years, such as “Wealth Management Platform of the Year” (Asian Banking & Finance Retail Banking Awards) in 2021, “1st in Internet Banking and Mobile App (Wealth Management)” (Bank Service Excellence Monitor – Infobank and MRI) in 2022 and “1st Best Mutual Fund Apps” (Bank Service Excellence Monitor – Infobank and MRI) in 2023, and “Best Wealth Manager Experience, Digital Initiatives” (The Asset Triple A Private Capital Awards) in 2021 and “Best Wealth Manager – Highly Commended and Best Wealth Manager Experience, Digital Initiatives” (The Asset Triple A Private Capital Awards) in 2022. The platform has seen strong customer growth and earned acknowledgement for its exceptional user experience.
additiv has played a pivotal role in the success of the CommBank SmartWealth application, supplying its innovative API-first Cloud platform capabilities alongside IKON, whose role as the certified implementation partner has been vital in steering the project forward. This renewal exemplifies Bank Commonwealth's trust in its capabilities and dedication to driving financial technology excellence.
Pieter Zylstra, General Manager of additiv APAC, and Munin Widarjo, CEO at IKON, echoed the sentiment, saying: “We are honoured to renew our commitment to Bank Commonwealth and the CommBank SmartWealth platform. This partnership displays additiv’s innovative solution, enabling Bank Commonwealth to continue its leadership in offering digital wealth solutions in the Indonesian market.”
Timothy Delahunty, Director of Operations, Information Technology and Finance at PT Bank Commonwealth, expressed his excitement about the renewed partnership, stating: “We are really proud of our longstanding partnership with additiv, with our CommBank SmartWealth platform being pivotal in our commitment to provide the very best wealth management solutions to our customers.”
Delahunty also noted the recent announcement on the sale of PT Bank Commonwealth to OCBC Indonesia to add: “PT Bank Commonwealth’s wealth management capabilities and the CommBank SmartWealth platform provide a fantastic opportunity for OCBC Indonesia moving forward, and we are really excited to be part of this journey to make wealth management more accessible to more Indonesians”.
About PT Bank Commonwealth:
PT Bank Commonwealth (“Bank Commonwealth”) is a subsidiary of the Sydney-based Commonwealth Bank of Australia (CBA), the largest financial company listed in the Australia Securities Exchange (ASX).
Bank Commonwealth focuses on both the Retail and SME segments, providing a full range of banking products and services – as well as being a leading provider of wealth management – by offering tailored financial solutions to serve customers’ needs. Bank Commonwealth is licensed and supervised by the Financial Services Authority (OJK).
About additiv:
additiv enables leading financial institutions and brands globally to develop new and transform existing business models, capitalizing on digital innovation and Finance-as-a-Service capabilities. additiv’s API-first cloud platform is one of the world’s most powerful solutions in wealth management, lending, and insurance. The technology, together with the global ecosystem of regulated financial service providers, opens new opportunities for banks, insurance companies, asset managers, IFAs but also ‘consumer brands’ to offer their own and third-party financial solutions quickly and flexibly via existing or new customer channels. Headquartered in Switzerland, with regional offices in Singapore, UAE, and Germany and 300 employees, additiv serves around 400 financial companies (banks, insurers, asset managers, pension providers, and IFAs) and brands globally.
About IKON (PT IKONSULTAN INOVATAMA):
Established in 2002, IKON is an IT and Management Consulting firm that has been trusted by many leading local and global companies to help achieve their business goals. For more than 20 years, IKON has built a strong reputation through several successful projects, implemented by experienced and knowledgeable consultants, particularly in the financial services industry (banks, insurance, and finance companies). IKON has been a certified additiv partner since 2017.
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