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Commonwealth Bank Opens an Innovation Lab in Hong Kong

The Commonwealth Bank of Australia opened its Innovation Lab in Hong Kong in January as part of the bank's global innovation network expansion, leveraging Hong Kong's unrivalled location and the city's status as the financial technology (fintech) hub in Asia.

The lab, located in Central, has three main zones: the incubation garage space helps cross-functional project teams work together; the collaboration hub encourages co-creation with clients to identify bespoke solutions, specific challenges and test prototypes; and the usability room provides clients with a live testing facility and the latest technology to improve their digital platforms.

The Commonwealth Bank Group Executive, Institutional Banking and Markets, Ms. Kelly Bayer Rosmarin, said, "Hong Kong's highly developed financial sector, strong entrepreneurial culture and proximity to the Mainland 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."