South African lender Standard Bank has launched its new dedicated innovation lab in Rosebank, Johannesburg.
Named the PlayRoom, the new 1,927 square metre facility aims to unearth disruptive ideas from staff, customers and start-up businesses.
The new lab will allow the lender to research and test new technology ideas in a controlled environment prior to launching them commercially.
The bank’s head of innovation and channel design Vuyo Mpako said that concepts developed in the PlayRoom will not only be customer facing, but some will also involve changing the bank’s internal systems and processes.
The PlayRoom has already been put to the test with the bank’s new internet banking site, due to be launched in the next two weeks. The concept, redesign, beta testing and extensive group testing sessions reportedly took place at the PlayRoom.