In a strategic move designed to tap the thinking of entrepreneurs based in leading offshore fintech hubs, Commonwealth Bank of Australia has opened an "innovation lab" in Hong Kong and will open a similar facility in London in July. Launching the lab in One Exchange Square, in downtown central Hong Kong, on Thursday, the Secretary for Financial Services and the Treasury of Hong Kong, KC Chan, said the start-up scene there is thriving and "fintech is an area that has great potential in our city.