CommBank (CBA) has announced it supports the controversial coronavirus phone tracing app, COVIDSafe, launched by the Australian Government.

The government introduced the app to help health authorities track Covid-19 carriers. However, since its announcement, the app has undergone criticism due to concerns surrounding privacy.

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Speaking on the the app, Matt Comyn, CommBank CEO, said: “We believe the use of the Government’s contact tracing app will play an important role in further supressing the transmission of the coronavirus and help give Australians the confidence to gradually return to everyday life.

“A tracing app will significantly improve what is largely a manual and imprecise process and add to the major success that Australia has had in substantially flattening the curve of infection and limiting the tragic loss of life to one of the lowest levels in the developed world.”

Tracing Covid-19

The app maintains a log of bluetooth connections a person’s phone makes with the phones of those they have come into contact with. The aim is to make it easier for health authorities to trace potential Covid-19 carriers.

Comyn adds: “Such contact tracing technology will require broad adoption if it is to be successful. We fully support the need for this to be achieved on a voluntary basis as the backing of the community from the outset will be essential.

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“The sole purpose of the tracing app will be to contain further transmission of the virus. This will help Australia get back to work. Once the economy is gradually re-opened and people feel safe to resume their lives, the app will have done its job and can be deleted from peoples’ phones.”

Comyn’s response is part of the bank’s broader response to the coronavirus which includes support for home loan and small business customers.

The CBA support for its customers includes:

  • Mortgage repayment deferrals for up to six months for 80,000 customers
  • Fee relief for credit card customers who were unable to meet their minimum repayments in March
  • 100,000 customers contacted directly to discuss specific support and help for them
  • More than $375 million approved for 4,500 SME customers under the government’s new guaranteed small business loan scheme
  • The launch of our new JobKeeper hot line to support SME customers needing bridging finance including a new, simple e-application form to access temporary overdraft facilities
  • Auto deferring loan repayments for more than 70,000 small business customers, providing cash flow relief of up to $500 million per month.
  • Reducing business interest rates to historic lows and waiving a range of fees.