Commonwealth Bank of Australia (CBA) has opened a new technology hub in Melbourne’s central business district that will generate more than 400 jobs.

CBA’s new hub will support software developers, cloud engineers and cyber specialists and aims to create new opportunities for Victoria’s expanding digital economy workforce.

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The bank is also forming a partnership with Monash University and RMIT University, which will see CBA provide students job placements in areas such as cloud, data, analytics, and software engineering.

Earlier this year, CBA opened a technology hub in Adelaide to tap technology talent across South Australia. The bank plans to open more such hubs across the county.

CBA chief information officer for technology Brendan Hopper said: “Establishing a tech hub in Melbourne puts us in a great position to tap into Victoria’s digital technology industry, which is not only internationally recognised, but incredibly robust and competitive thanks to support from the government and the education sector.”

RMIT University associate dean of data science Lawrence Cavedon said: “Through dedicated software engineering placements available through this CBA program, we will ensure that CBA has a pipeline to employing future job-ready graduates at the university.”

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Earlier this month, CBA said it is using artificial intelligence (AI) technology to protect customers from fraud. As part of its scam and fraud protection strategy, the bank is also doubling the size of its team, which will be focused on protecting customers.