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Standard Chartered today announced the opening of its Hong Kong innovation lab, the eXellerator, to promote innovation within the Bank and to tap emerging financial technologies and data science in the region, to bring better products and services to its customers in Hong Kong. The eXellerator in Hong Kong will be part of the Bank’s global network of innovation labs and activities responsible for exploring new technologies and ways of working to improve client and user experiences.

The eXellerator, located in Standard Chartered Bank Building in Kwun Tong, with an area of over 10,000 square feet, is a collaboration space for business units, clients, technology companies and industry partners to come together to solve business problems and explore opportunities, underpinned by methodologies, such as rapid prototyping, test and learn and human-centred design. The innovation lab, designed and created by co-working space company WeWork, will provide the Bank’s staff and innovation partners with an open common area, project and training rooms, and a dedicated usability testing lab that is conducive for engagement and co-creation. The eXellerator will be a focal point for bringing together talent, new technologies and innovative mindsets to create the next generation of client-focused products and services.

Mary Huen, Chief Executive Officer at Standard Chartered Hong Kong, said: “For us at Standard Chartered Hong Kong, the eXellerator is more than just a new office space. It is all about innovation and making change happen. As clients become more digital and expect more seamless, timely and user-friendly access to banking services, we need to constantly innovate and improve, or risk being left behind.”

Dr Michael Gorriz, Group Chief Information Officer at Standard Chartered, said: “The word ‘eXellerator’ stems from two words: acceleration in change and excellence in client service. With the eXellerator now in Hong Kong, all the ideas which will be created in our largest market in the world, will obviously benefit the clients here, and elsewhere in the world.”

The opening of the eXellerator in Hong Kong shows our commitment to serving our clients more effectively and efficiently, and giving them more convenience, choice and security. With our long history in the city, our deep market knowledge and our strong relationships with clients, we understand what Hong Kong clients want. 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.

Standard Chartered Hong Kong has also partnered with the University of Hong Kong to provide a 6-hour certificate programme to 1,000 Hong Kong staff. This is Asia’s first FinTech-focused Massive Open Online Course which will help enhance the knowledge of our employees in areas such as payments, finance, data and regulatory technology.

Standard Chartered launched its first eXellerator in Singapore in 2016 and has since successfully run human-centred workshops, new technology explorations and co-creation workshops across our global franchise. The eXellerator is managed by a global team of business, technology and design specialists, and is part of SC Ventures, the newly created business 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, one of Asia’s leading FinTech accelerators, since 2015. The alumni network of 26 FinTech companies has cumulatively raised over USD 370 million and closed 16 commercial partnership deals as a direct result of the programme.

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
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