How Commonwealth Bank of Australia Built Its Innovation Center [VIDEO]

  • Philip Ryan
  • May 7, 2015
  • 1

Commonwealth Bank of Australia (CBA), one of Australia’s “Big Four” banks, has launched a number of innovation initiatives in the last several years, from the small — a smartwatch app — to the massive — modernizing its core software. The company also built a 7,500-square foot innovation lab beneath its Sydney headquarters for a cost of US $3.2 million. Tarra Van Amerongen, one of five innovation solutions managers at the bank, describes how the lab is structured and the role it plays in the bank in the video below, one of a series released today focusing on CBA’s innovation efforts.

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Philip Ryan is Senior Editor of Bank Innovation and Senior Director of INV Fintech. He began covering financial services in 2012 and has more than 15 years' experience in online journalism. He can be reached at pryan@royalmedia.com.

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