Digital collaboration for tomorrow's bank customer
3 March 2015
Further bolstering its commitment to digital innovation and technology, Suncorp Bank has today joined forces with a number of leading Australian companies to support the launch of a fintech hub in Sydney today.
To be known as Stone and Chalk, the fintech hub is a collective effort to help accelerate the development of a successful financial technology start-up community in Australia. It also provides an opportunity for banks and regulators to engage with young companies working on innovative products and ideas in the banking sector.
When doors open in May,Stone and Chalk will be able to accommodate up to 150 entrepreneurs through hot desks, fixed desks and offices plus 'drop in' spaces, as well as offer events space to host seminars, industry meetings and conferences.
Suncorp Bank CEO, John Nesbitt, said that digital transformation in banking is happening now and the Hub provided an opportunity for likeminded players in the sector to support exciting start-ups.
"We strongly support the Hub as an industry-led initiative and look forward to seeing the results of collaboration between financial technology entrepreneurs, banks, technology companies, venture capitalists and government," Mr Nesbitt said.
"The Hub provides Australian start-ups with the opportunity to partner with established financial services companies and the chance to influence and penetrate the global financial services market.
"We applaud the New South Wales State Government and KPMG for leading the fintech Hub initiative.
"One key project being undertaken by Suncorp Bank to keep pace with digital developments and the rapidly changing needs of consumers is the replacement of our core banking platform.
"The innovative, customer service-orientated banking platform will result in cost efficiencies, capability improvements and better service for our customers."
Newly appointed Chair of Stone and Chalk, Craig Dunn has more than 20 years experience in the financial services sector, most recently as a Panel Member for the Financial System Inquiry and prior to this Chief Executive Officer of AMP.
To find out more about Stone and Chalk, visit stoneandchalk.com.au.
About Suncorp: Suncorp Group includes leading general insurance, banking, life insurance and superannuation brands in Australia and New Zealand. The Group has 14,500 employees and relationships with nine million customers. Suncorp Group Limited is a Top 20 ASX-listed company with $94 billion in assets. Suncorp Bank is Australia’s leading regional bank servicing more than one million personal, SME and agribusiness customers.