HSBC has launched a financial technology (Fintech) innovation lab in Singapore, which will enable the bank to work collaboratively with corporates in developing the next generation of digital and mobile banking services. The opening of the HSBC Singapore Innovation Lab is the first of such a dedicated and strategic space for the bank in Asia Pacific. Staffed with a team of business and technology experts, the bank’s innovation lab in Singapore will focus on corporate banking needs in payments, trade and supply chain, particularly for companies with a regional focus. Its scope will also be subsequently expanded to cover the full range of HSBC services, including retail banking. Located at the bank’s main premises at Collyer Quay, the Singapore lab will also support the development and testing of digital and mobile banking innovation projects of other ASEAN countries where the bank has an active presence, including Malaysia, Indonesia and the Philippines. HSBC will work with partners – including clients, technology firms, academia and the government – to share expertise and showcase trends and new technologies. The collaboration will also serve to generate new ideas and concepts for prototyping. Cutting-edge client propositions will be put to trial through business simulations to derive practical insights into digital disruptions, and fine-tuned before being fully launched in the market.
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