CBA
Turning to the tech of tomorrow CBA is using cutting-edge emerging technology to bring the future forward
S
LAUREN TROMPP
app on your smartphone, o you’ve got your bank’s ur balance, pay bills, and you use it to check yo y. That’s all there is to maybe save a bit of mone g. Financial institutions banking tech, right? Wron s trying tech trends and are alway are on the cutting edge of e to fiv ght change in the next to predict how banking mi ificial art m augmented reality and 10 years. Everything fro le. tab and drones are on the intelligence to blockchain ve, as frontline of this new wa Jesse Arundell is on the ing erg Consultant for the Em a Senior Open Innovation A). Commonwealth Bank (CB Technology team at the says. the future forward,” Jesse Their mission? “To bring of ce en look like? In the abs But what does that future : ng thi going for the next best a crystal ball, the CBA is es. ye plo tion of their 52,000 em tapping into the imagina ry ng locked away in an ivo “Instead of innovation bei my n, tio few within the organisa tower or given to a select se. Jes s one to be innovative,” say role is to empower every at gre e already delivered som This crowdsourcing has ngs thi ke ma technologies can help ideas on how emerging its customers. better for the bank and lity technologies, such as For example, mixed rea l world a way to bring the digita Microsoft’s HoloLens, are ing eth e knew there was som into the ‘real’ world. “W how gy, we just didn’t know magic about this technolo ins. pla ucts of CBA,” Jesse ex best to use it in the constr to the bank ’s staff. So they put the question nted e back was people who wa One of the ideas that cam to s sse nce could use these gla home and contents insura d for in their house to insure an help them work out what home, ur yo m on, walk through how much. Simply pop the y. lic ons that are on the po and record all the possessi could ing technology, but how Drones are another emerg u.) yo to y y can’t deliver mone a bank use them? (No, the rk wo to d th cameras can be use Well, drones equipped wi ers, ast dis al s been done by natur out how much damage ha . ing how their crops are far or to help farmers look at – a new way of securely Then there’s blockchain en h as a transaction bet we recording information, suc d ste need for a centra l tru two parties, without the ck of the details. source of truth to keep tra ing, Jesse says. “It’s And that’s just the beginn where rth industrial revolution bringing for ward the fou lly ua act and efficient, and we every thing’s connected dy gra No lot better.” – Bianca understand the world a 33
Bachelor of Commerce/Arts, macquarie University consultant, CBA
intern, CBA senior consultant, CBA
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