After Cloud and AI, CommBank invests in data

Australian Bank CommBank has given new funding to a start-up specialized in data management and artificial intelligence technologies. It demonstrates once again its strong commitment to supporting the latest state-of-the-art technologies aimed at changing financial and banking services, as well as its ambitions to transform its own market through their integration.

FACTS

• The CommBank incubator, x15ventures, recently closed its last Xccelerate program by presenting Gable as the winner of this divestiture.

• The Gable start-up was created in 2023 in Seattle to help developers ensure the quality and governance of data circulating within an organization.

• In particular, Gable uses the latest artificial intelligence technologies to identify the source of the data and to monitor how they circulate between services and databases within an organization. Its technology enables the identification and reporting of sensitive data and alerts against non-conformity of uses.

• Gable got a SAFE investment Note from CommBank's Venture Capital Development Branch and is now actively exploring several partnership opportunities with the Australian bank to put its expertise into practice in the banking sector.

ISSUES

• Meet standards: CommBank's investment in Gable aims to address a major issue in the processing and use of data while ensuring the quality, security and confidentiality of their processing. A particularly important issue in the sensitive market in which banking and financial actors operate.

• Capitalizing on your own lab To find and select Gable, CommBank simply relied on its own startup incubator. She officialized the launch of its x15ventures, a subsidiary entirely dedicated to the emergence of new digital solutions, in 2020. And it was within the framework of its Xccelerate24 program, during which Gable finished the winner, that the CommBank was able to discover the start-up that is now attracting its interests.

• Another step in technology deployment The Combank's ambitions have been clear since the launch of its incubator in 2020. In recent months, the Australian bank has shown significant dynamism in supporting the development of the latest innovative technologies and their integration into banking services in particular. She confirmed For example, most recently its partnership with AWS on cloud and AI themes.

PERSPECTIVE

• CommBank's new investments in Gable start-up must now allow it to invest in the data management market, which is fundamentally a resource and fuel essential to the smooth functioning of the latest artificial intelligence technologies. Conversely, AI is also a technology that can better manage and optimize data.

• And the Australian bank had already demonstrated the value of using the data associated with the use of artificial intelligence technologies for a very specific and rewarding application, with regard to the launch of an advertising company. Named CommBank ConnectIt must allow advertisers to take advantage of the banking channels to make their advertisements.

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