Not everything will work out in technology gaming in banking.
CBA CIO David Whiteing said that the bank needed to learn from Silicon Valley which was "really proud of failure," saying that the Innovation Lab would provide an environment to allow the bank to experiment, learn from failure and then reap the benefit of those learnings when it did roll out a successful product.
Narev acknowledged there had been some hiccups with technology already.
The Albert point of sale device, being developed in association with Wincor Nixdorf, is still not released, despite being announced
well over two years ago.
Kelly Bayer Rosmarin, group executive of institutional banking and markets, said the device was still being tested in field trials, but the bank expected to launch a "much bigger pilot in the next couple of months," and was working with a team of UNSW software programmers on applications for the device.