BNY Mellon to open eighth fintech innovation centre in Singapore

BNY Mellon, a leading investment management and investment services company, is going to open its newest Global Innovation Center in Singapore on 17 November 2016, which marks the eighth innovation center within a global network.

The innovation center will launch in conjunction with the Singapore FinTech Festival. It will bring together leading-edge thinkers and emerging talent from across the industry to create, disrupt and accelerate market solutions, while tackling the demands and challenges of an increasingly complex market.

“The opening of our eighth Innovation Center in Asia is a reflection of the region’s rapidly developing innovative technology and fintech landscape, as well as the increasing importance of Asia to BNY Mellon’s business. As our largest branch office in Asia Pacific, the Singapore Innovation Center reinforces BNY Mellon’s commitment to the region’s advancement in transformational technology in financial services and compliments the Monetary Authority of Singapore’s continuing ambition to establish a vibrant innovation ecosystem and to develop the city as a Smart Financial Center,” Stephen Lackey, Chairman of Asia Pacific for BNY Mellon, said.

Besides Singapore, BNY Mellon has established innovation centers in seven locations globally, which includes Pune, Silicon Valley, Jersey City, Chennai, London, Pittsburgh, and Central New York. The company said the Singapore Innovation Center has been designed to facilitate collaboration with fintechs and clients in Asia for the creation of data-driven market solutions that will operate within BNY Mellon’s digital ecosystem, NEXEN. 

“The BNY Mellon Innovation Center in Singapore is designed to take clients through a digital journey by leveraging NEXEN technologies to showcase the power of Application Program Interfaces (APIs). With unallocated seating and no audio or visual barriers on the engineering floor, the open plan space offers a collaborative environment that encourages innovation. We are excited about opening this unique offering in Singapore; a place with strong talent pools and a well placed financial technology landscape,” said Hans Brown, Asia Pacific Head of Client Technology Solutions at BNY Mellon.

According to the official announcement, through NEXEN and its network of innovation centers worldwide, BNY Mellon is already in talks with over 300 global fintech start-ups.