A 22-year old industrial design student from Brisbane has won Commonwealth Bank's 'future of banking' crowdsourced IdeaBank contest with a proposal that would enable consumers to store, view and print receipts electronically through their online banking account.
Andrew Dane walked off with a $10,000 prize for his suggestion, which was posted to the Australian bank's IdeaBank portal. Launched in December last year, the site is dedicated to the generation of ideas with the potential to shape and improve the future of banking.
Explaining his idea, Dane says: "I had always had a problem with receipts where the ink would completely fade away or they would get lost or wet or damaged somehow. Since so many of those big and important purchases are made using electronic means these days, I thought, why not add an online receipt to NetBank's transaction details that can then be stored and viewed whenever you need to? It would not only help file receipts, it would reduce paper wastage too. I would call it the NetBank Electronic Receipt."
As well as scooping the $10,000 top prize, Dane will be invited to the bank's headquarters in Sydney to explore the idea with CommBank's innovation team.