Business
CBA can disrupt itself says new incubator chairman Ben Heap – Sydney Morning Herald
The chairman of Commonwealth Bank’s technology incubator, Ben Heap, says the bank will be able to experiment with disrupting its own profitable businesses.
The advantage of an X15 is CBA is able to challenge itself. Its able to disrupt its own lines of business without creating an inherent conflict for senior managers within the bank, Mr Heap said.
While all major banks have units to invest in fintech, CBA has stressed it will not be a passive investor and it will focus in particular on ideas that could be useful for its customers.
Mr Heap, a co-founder of fintech-focused fund H2 Ventures, will report directly to CBAs board and is chairing a unit with…
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