Australian telco provider More and Commonwealth Bank have extended their strategic relationship and Commonwealth Bank has taken an additional equity stake in More and its sister telecommunications company Tangerine, taking it from 25 per cent to 30 per cent.
In an Australian-banking first, joint CommBank and More customers can now link and view their More nbn® and mobile accounts in the CommBank app allowing them to pay their bill, check their usage and manage their account all from the CommBank app. This will be available when customers update their app.
Under the agreement, More will continue to offer exclusive discounts on its telecommunications services to CommBank customers.
As More marks more than two years since CommBank’s investment, this recommitment underscores the success of the collaboration and the shared commitment to innovation, customer satisfaction and delivery of affordable internet and mobile products.
Speaking about the relationship, More CEO Andrew Branson said: “Since the launch of CommBank-More deal over two years ago, our relationship has achieved remarkable success.”
“More has become one of the fastest-growing telcos in Australia, with nearly 140,000 joint More and CBA customers. The exclusive relationship between CommBank and More has not only exceeded expectations but has also demonstrated the synergy of combining banking and telecommunications services to achieve positive outcomes for customers.”
On the back of this extended relationship, More has launched nbn® offers to CommBank Yello – the bank’s new customer recognition program.
This development sees eligible CommBank Yello customers rewarded with different levels of discounts on nbn® plans and is available through the CommBank app now.
Under CommBank Yello, customers in the Homeowner tiers can enjoy 40 per cent off the RRP of a More nbn® plan for 12 months, and then 10 per cent off ongoing, as long as they continue to pay with an eligible CommBank payment method.* This represents a significant cost saving for customers.
Ben Morgan, CommBank General Manager Retail Strategy said: “This agreement reinforces our continued commitment to supporting Australian households by providing them with reliable and affordable mobile and nbn® solutions. It’s another way we’re saying thanks to our customers and offering them ways to save.
“From 27 November, customers that update their CommBank app will be able to see their More accounts, check their usage and pay their bill.
“We believe being able to view and interact with your telco plan via your banking app is an Australian-banking first” Mr Morgan said.
In addition to the recommitment, More has recently launched eSIM to complement its successful mobile offering. All of More’s mobile plans are no lock-in contract, come with a databank, offer unlimited standard calls & SMS within Australia and use the Telstra Wholesale Mobile Network.
More has also been named Australia’s 28th fastest growing company in the AFR’s Fast 100 List 2023 released today.
Andrew Branson said, “We’re not just meeting the needs of today; we are redefining connectivity in Australia where the future of banking meets the future of telecommunications.”
