Commonwealth Bank launches credit card application system

A new online identification system has been launched by Commonwealth Bank.

New Commonwealth Bank customers can now go online to apply for a credit card, transaction account or savings account using a new identification process.

Electronic Customer Verification enables the organisation to confirm a person's identity there and then rather than having to carry out an ID check in a branch.

Quentin Boyes, executive general manager of direct channels, noted that the system will make it easier for consumers to bank with the company.

He added: "In less than ten minutes new customers apply for a bank account without having to visit a branch."

People who are interested in trying this service will have to enter identification information and the bank will then confirm this against external sources.

This news comes after the organisation launched a free one-time password - NetCode SMS - designed to give added online protection to people shopping on retailers' websites via their mobile phone.

By Mark Hornby