BNY Mellon Joins Singapore Fintech Rush

BNY Mellon is the latest global institution to announce an Innovation Center for the city-state. The newest edition to the Singapore fintech stable will open this month.

The Singapore Innovation Center, BNY Mellon claims, will be uniquely focused on creating data-driven market solutions through collaboration with fintechs and clients in Asia within BNY Mellon’s digital ecosystem, NEXEN, the company said in a statement today.

Eighth Global Innovation Center

Launching in conjunction with the Singapore FinTech Festival, the Innovation Center 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 Singapore Innovation Center joins an established network of seven locations globally, including Pune, the first Center established in 2014, Silicon Valley, Jersey City, Chennai, London, Pittsburgh, and Central New York.

As the eighth Innovation Center within a global network, the Singapore Innovation Center is 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.

Extensive Wealth of Data

«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. 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,» said Stephen Lackey, Chairman of Asia Pacific for BNY Mellon.

With more than $30.5 trillion assets under custody and $1.7 trillion assets under management, BNY Mellon has access to an extensive wealth of data and is uniquely placed to leverage this on its digital ecosystem, NEXEN. This ecosystem consolidates solutions from BNY Mellon, select third-parties and clients globally onto one single platform. Through NEXEN and its network of innovation centers worldwide, BNY Mellon is already in talks with more than 300 global fintech start-ups globally.

 

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