(20 January 2016 – Hong Kong) Commonwealth Bank of Australia (CBA) has announced the launch an innovation lab in both Hong Kong and London to create a global approach to new tech initiatives across the bank.
The Hong Kong Lab – opening today – includes an incubation space, collaboration hub and usability room for live testing of new applications. It is expected the London arm will open later this year.
Kelly Bayer Rosmarin, group executive, institutional banking and markets, CBA said in a statement: “Hong Kong’s highly developed financial sector, strong entrepreneurial culture and proximity to China makes it the optimal location for us to establish an innovation presence in Asia. The Hong Kong Lab will allow us to partner with the brightest minds across the city’s accelerator, government, university, startup and fintech communities to further develop creative and innovative solutions for our clients.”
The facility is modelled on the bank's Sydney site which opened 18 months ago. It has hosted over 40,000 guests, developed a number of blockchain applications and collaborated with major Australian corporates, government organisations and universities to experiment with future technology.