Commonwealth Bank of Australia: License to innovate – Cases studies of IP licensing and knowledge exchange across the international banking sector
Increasingly, banking and traditional financial institutions are seeking new models and means for innovating at pace. They struggle to remain relevant in light of large scale industry disruption with regulatory changes, heighted customer expectation, an onslaught of entrepreneurs and fintechs plus the rapid adoption of emerging technologies.
In the past banks have relied heavily on their own internal machinery to form up their next generation of products and services, or through the strategic partnerships they have in place with technology or design practices – creating unique, proprietary work, specifically built for their own people, systems and markets.
However, the banks themselves, are in a prime position to leverage each other’s efforts, sharing and licensing IP and know-how as means of adopting tried and tested innovative offering, from each other.
Hear from ASB’s Head of Innovation and Commercialisation Leigh Angus, as she talks through the models ASB are building for commercialising and licensing their home grown IP to global banks in non-competing territories, and positioning ASB as a world leading, innovative bank for banks