BNY Mellon establishes innovation centre in Singapore

The latest launch will coincide with the FinTech Festival in Singapore.

BNY Mellon has announced its latest global innovation centre will open in Singapore later this month.

The Singapore innovation centre will help collaboration between FinTech firms and its clients in Asia, “for the creation of data-driven market solutions that will operate within BNY Mellon’s digital ecosystem, NEXEN.”

It will also aim to bring innovators and emerging talent from across the industry to “create, disrupt and accelerate market solutions,” BNY Mellon said.

The launch will coincide with the FinTech Festival in Singapore and it will be the eighth centre to open within BNY Mellon’s global innovation network.   

The first innovation centre was established in Silicon Valley in 2014, followed by centres in Jersey City, Chennai, London, Pittsburgh and New York.

Chief information officer at BNY Mellon, Suresh Kumar, said the bank’s approach “covers all critical phases of enterprise innovation and we continue to work side-by-side with clients and FinTech firms to create valuable digital offerings.”

Chairman of Asia-Pacific for BNY Mellon, Stephen Lackey, added the new centre is a reflection of the region’s rapidly developing innovative technology and FinTech landscape.

“As our largest branch office in Asia Pacific, the Singapore Innovation Centre reinforces BNY Mellon’s commitment to the region’s advancement in transformational technology in financial services,” he added.