ANZ launches Singapore innovation lab
The Australian ‘big four’ banking group said that the facility will help accelerate innovation in institutional banking.
The Australian ‘big four’ banking group said that the facility will help accelerate innovation in institutional banking.
ANZ has launched an innovation lab in Singapore to help accelerate innovation in institutional banking capability and facilitate collaboration with the financial technology – or ‘fintech’ ecosystem which includes participants from industry, academia and government. The group said that the facility, known as ANZ BlueSpace, provides “an open lab environment that aims to encourage design thinking and reduce the innovation cycle through the incubation and rapid prototyping of ideas.”
The lab opening follows an innovation challenge that ANZ jointly organised with the National University of Singapore Business Analytics Centre in September. The event challenged students to explore how emerging technologies, such as blockchain, cognitive analytics and application programming interfaces (APIs, can bring innovation to trade and supply chain solutions in Singapore and the Asia-Pacific region. ANZ is also sponsoring the inaugural Singapore FinTech Festival (14-18 November), which will see the facility, along with other innovation labs across the country, open to the public as part of its innovation lab crawl.