Risk Company Update

CBA rolls out abusive behaviour-detecting AI

The Commonwealth Bank (CBA) has introduced new artificial intelligence technology to detect abusive behaviour in transaction descriptions within the CommBank App and Netbank. This is a banking first, an attempt to curb its platforms being used for domestic and family abuse. A block filter was put in place in 2020 on digital banking channels to stem transaction descriptions with threatening, harassing or abusive language.

Hidden in a private banking transaction, these forms of abuse have up until recently gone undetected or unnoticed by banks, despite this type of abuse being very common.

MetLife welcomes new policy supporting staff mental health

MetLife Australia has implemented a new policy and plans to support and promote good mental health and the well-being of employees. The policy has several main goals, including building awareness and knowledge as an employer of mental health issues and behaviours, while reducing stigma around depression, anxiety and suicide. The overarching goal is to encourage staff to participate in initiatives to promote wellbeing and caring for mental health.

There is an online learning platform in partnership with SuperFriend, and an information and resources hub with content from the Black Dog Institute and its 360Health program.

The initiative came after an internal staff survey that found about half of those that responded were suffering mental health problems due to the pandemic.

TAL finalises acquisition of Asteron Life & Super

TAL is now the proud owner of Suncorp’s Australia life insurance business, Asteron Life & Super. Asteron Life policyholders are now TAL Life policyholders, with no changes to terms and conditions. The Asteron brand remains on the market.