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Media Release

CBA partners with TfNSW's Future Transport Digital Accelerator

CBA’s Innovation Lab partners with Transport for NSW

21 May 2018

Commonwealth Bank’s (CBA) Innovation Lab is supporting the development of big ideas by partnering with Transport for NSW’s (TfNSW) Future Transport Digital Accelerator, enabling innovators to collaborate directly with the State Government in developing solutions to fast-track the delivery of the Future Transport Technology Roadmap.

The Future Transport Digital Accelerator was launched this morning at the Sydney Startup Hub at Wynyard Green with the NSW Transport Minister, Andrew Constance announcing a consortium of private sector partners, including CBA, City Innovate Foundation, Amazon Web Services, Optus and MasterCard.

CBA will provide the innovators participating in TfNSW’s Future Transport Digital Accelerator access to the bank’s innovation assets and expertise, including:

  • Innovation methods and models – accessing CBA experts and a systematic approach to identifying opportunities, proven methods of working, and leading tools, methodologies and processes to support the incubation and acceleration of ideas to concepts to market services.
  • Innovation Centres of Expertise – enabling opportunities for mentoring, collaboration and co-creation with established Centres of Expertise (COE) specialists to drive more solutions. There are over 10 COE’s which include blockchain, robotics, digital and big data.
  • Innovation Lab Facilities – providing access to CBA’s purpose built innovation spaces to test, gain feedback, grow and socialise solutions in domestic and international markets.
  • CBA’s network and community – ability to tap into the bank’s communities, businesses and networks to deliver new transport solutions for NSW.

Managing Director, Health, Education and Government, Julie Hunter, said: “We’re excited to be working with the NSW Government on its plans for the future of the state. CBA has a strong track record innovating with the NSW Government and TfNSW. This latest partnership is a co-creation between both organisations to reimagine travel and transport solutions for the community.” 

Head of CBA’s Innovation Lab, Tiziana Bianco, said: “Nationwide, the move towards smart cities is gaining momentum. CBA and the NSW Government are combining forces to drive high impact innovations together rather than in isolation. CBA is passionate about integrating technology with infrastructure, to help build environmentally sustainable and community focused services to remain a competitive and attractive location for Australians and tourists alike.

“The Future Transport Digital Accelerator facilitates direct collaboration between the public and private sectors, to seamlessly connect teams from TfNSW with industry, researchers, entrepreneurs and start-ups. CBA will help to ensure that the passionate innovators who are shaping the future of our cities have access to the resources, skills and support they need to be successful,” she said.