The Commonwealth Bank of Australia has launched its Innovation Lab in Hong Kong and has announced its intent to launch an Innovation Lab in London later this year. This extends the bank’s Innovation Lab in Sydney, which last year developed a blockchain and is promoting the use of cutting-edge technology, and progresses towards creating a global approach to innovation that connects customers, employees and start-up communities to the latest FinTech developments.
Kelly Bayer Rosmarin, Group Executive, Institutional Banking and Markets, Commonwealth Bank said: “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, start-up and FinTech communities to further develop creative and innovative solutions for our clients.”
There are three main areas comprise of an ‘incubation garage space’ to help cross-functional project teams work together on developing new ideas, a ‘collaboration hub’ to encourages co-creation with clients to find bespoke solutions and a ‘usability room’ which will provide clients with a live testing facility which includes the latest eye-tracking technology in order to improve their digital platforms.
Ms Bayer Rosmarin commented: “The strong interest in our Sydney Innovation Lab demonstrates the emphasis business and government place on innovation as an integral part to a successful future. In just one year, the Sydney Innovation Lab hosted over 40,000 guests, successfully built a live blockchain and collaborated with major Australian corporates, government organisations and universities to experiment with future technology. This innovation space has strengthened our culture of innovation and we look forward to continuing this success on a global scale,”
Australian Consul-General to Hong Kong, Paul Tighe noted: “By launching the billion dollar National Innovation and Science Agenda last December, the Australian Government indicated that it’s ready to encourage an ideas boom. We welcome the launch of the Commonwealth Bank Innovation Lab in Hong Kong, which is a demonstration that business and individuals are ready and keen to play their part in facing the challenges of the future.”