UST says this is the eighth lab globally, which will see UST’s team collaborate with a community of researchers and innovators to deliver better outcomes for its customers. UST added this will create 250 jobs in Victoria.

Present at the launch were Minister for Economic Development and Victorian Treasurer Tim Pallas and UST managing director ANZ Matthew McCormack.

“Global digital tech companies come to Victoria because we have the skilled workforce, the education and training infrastructure and the business environment they need to succeed,” commented Pallas.

UST established the lab at University of Melbourne’s innovation precinct to capitalise on the community’s industry, research, and start-ups.

“Melbourne Connect is a place that brings together the expertise of the University, industry and government to unlock new, creative research-driven solutions to some of society’s biggest challenges. The addition of UST to Melbourne Connect will further enhance the city’s reputation as an international research and innovation leader,” said University of Melbourne vice chancellor Duncan Maskell.

As part of its commitment and investment into Victoria, UST has established its ANZ headquarters in Melbourne.

“With this increased investment, we will better showcase UST’s approach to solving business challenges. Known as Insights to Value, the approach uses human research and AI to generate insights and inform decision-making, revealing opportunities for growth and driving innovation to realise business value,” said McCormack.

“The lab is more than a place. It represents a way of working that puts people, not technology, at the heart of innovation, which we will use to collaboratively solve the challenges that Australian organisations are facing,” commented UST consulting director innovation ANZ Agnes Misiurny.