Standard Chartered has opened an innovation lab in Hong Kong to tap emerging financial technologies and data science in the region.
The eXellerator, located in Standard Chartered Bank Building in Kwun Tong, with an area of over 10,000 square feet, will act as a collaboration space for business units, clients, technology companies and industry partners. Designed and created by co-working space company WeWork, the space features an open common area, project and training rooms, and a dedicated usability testing lab.
Dr Michael Gorriz, Group CIO at Standard Chartered, says: "The Hong Kong eXellerator plans to develop solutions in a few key areas, including artificial intelligence, cyber security and 'Banking Make Easy', to ensure we provide the best possible services to our clients of today, and tomorrow."
The bank has also partnered with the University of Hong Kong to provide a 6-hour fintech-focussed certificate programme to 1000 Hong Kong staff to tutor employees in areas such as payments, finance, data and regulatory technology.
The eXellerator, which builds on a similar initiative launched in Singapore in 2016, is managed by a global team of business, technology and design specialists, and is part of SC Ventures, a new unit responsible for developing innovative best practices in the bank, identifying and managing strategic investments in attractive fintech start ups, and setting-up new ventures.
Standard Chartered has been a founding sponsor of SuperCharger Hong Kong, , since 2015. The bank says the alumni network of 26 fintech companies has cumulatively raised over $370 million and closed 16 commercial partnership deals as a direct result of the programme.