CBA launches Hong Kong innovation lab

Australia’s largest lender has launched a Global Innovation Network with a lab in Hong Kong, with a second offshore innovation lab to open in London later this year.

In a statement CBA said that the innovation network was a natural extension of the bank’s innovation lab in Sydney and was aimed at creating a global approach to innovation that “connects customers, employees and start-up communities to the latest fintech developments".

The Hong Kong lab has three main zones to encourage collaboration and drive experimentation.

The incubation garage space helps cross-functional project teams work together on bringing ideas to life while the collaboration hub encourages co-creation with clients to find bespoke solutions, deep dive into specific challenges and test prototypes. Finally the usability room provides clients with a live testing facility and the latest eye-tracking technology to improve their digital platforms.

“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,” Kelly Bayer Rosmarin, group executive, institutional banking and markets at CBA said.

“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. This innovation space has strengthened our culture of innovation and we look forward to continuing this success on a global scale.”

[Related: 'We can disrupt and we are', says CBA exec]

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