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CBA opens Innovation Lab inside Sydney HQ

Tuesday, 21 Oct 2014

Technology as important to CBA as classic banking skills, says CEO Ian Narev.

Leading on technology is a “life-and-death matter” for Commonwealth Bank, according to CEO Ian Narev.

Narev stressed the bank’s commitment to innovation as CBA opened an Innovation Lab on the ground floor of its office in the Sydney CBD. The 690 square metre Innovation Lab will act as an idea incubator and accelerator focused on developing new products and services in collaboration with customers, partners, startups and industry.

In addition to hosting workspaces, the Lab includes several tech demonstrations such as a virtual reality demo using Oculus Rift goggles and an interactive visualisation of payment trends around the country.

Read the full story published by CIO at