Uh Z give Ian a call!! “The kids all sort of run past and taunt...

Uh Z give Ian a call!!

“The kids all sort of run past and taunt knowing it won’t move, and generally it won’t,” he said. “But if you can actually mobilise the big dog off the porch, then the big dog is actually capable of doing some pretty interesting innovation.”

The biggest challenges to any technology start-up are capital and customers, both of which Commonwealth Bank has in ample supply, he said. The challenge is working out how to apply the new technologies to existing business lines, and evolving the management model to keep pace.

“There is not a single piece of good innovation that has come out of the Commonwealth Bank in the five odd years since I’ve been running it, that I’ve had anything to do with,” he said.

“Not a single thing. Not a single idea I thought up, not a single idea I don’t think I’ve even made better. And I don’t think there will be for as long as I’m here.”