Launched out of CommBank’s venture scaling arm x15 Ventures, Cheddar is specifically targeting Gen Z and Gen Y consumers, using AI and algorithms to serve them content from retailers that resonate. A social-media style algorithm will serve users with content from merchants relevant to them, offering deals to an already highly-engaged user base. Customers will be able to discover personalised deals and brand recommendations, and receive cashback rewards for shopping with those brands.
Cheddar has launched with more than 600 merchants on board, including the likes of Menulog, Culture Kings, Cotton On and Net-A-Porter.
The bank also went live with Little Birdie, the so-called ‘homepage’ for online shopping.
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