The Commonwealth Bank is heading offshore to get closer to the world leading technology developments – particularly in artificial intelligence – unveiling plans for a dedicated tech hub in Seattle.
The Seattle Tech Hub is a combination of a centre of excellence and high-end training facility, put together to get access to expertise not available in Australia.
CommBank chief executive Matt Comyn said as technology is moving faster, the bank needed to put its people closer to where it is being pioneered. That means the US broadly – especially in the case of AI – and Seattle specifically, with global leaders Microsoft and Amazon Web Services based there.
The bank is also a large AWS customer, which will work closely with the new Seattle Tech Hub.
The hub is designed as a strategic gateway to enable collaborations with leading tech companies, foster innovation exchange, and to broaden the exposure of employee to the sharp end of technology development.
“As the rate of global innovation continues to accelerate, we increasingly believe that the bank’s technology leadership will continue to provide a strong foundation to CommBank’s strategic performance and competitive advantage,” Mr Comyn said.
Technology leadership in delivering better customer services was at the core of the bank’s corporate strategy, he said.
The first group of CommBank technology people currently at the Seattle Tech Hub are focused on learning to fast-track adoption of Agentic AI and Gen AI systems designed to help its small business customers manage finances and run their businesses.
CommBank group executive for technology Gavin Munroe said the Seattle hub would give its tech staff an advantage in delivering better digital services at a safer and faster pace
“A Tech Hub based in Seattle – an area that is home to leading global technology companies – will connect our technologists with our partners to accelerate how we deliver new banking solutions for customers,” Mr Munroe said.
“Our teams will bring new ideas back to Australia to enhance how we work, while boosting the knowledge and expertise in Australia’s tech ecosystem,” he said.
Through the Tech Hub, which opened this month, CBA tech teams will take part in a three-week exchange within the Seattle tech precinct, participating in collaborative programs with companies like AWS, Anthropic, H2O and Microsoft.
The presence in what is one of the world’s leading tech ecosystems will accelerate transformation while enabling it to attract top talent and develop capability, the baknk said.
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