BNY Mellon has joined Britain’s fintech (financial technology) community with the launch of the global investments company’s new EMEA Innovation Centre in London. It will be opened tonight by BNY Mellon’s Senior Executive Vice President and Chief Information Officer, Suresh Kumar.
BNY Mellon says the centre will bring together tech start-ups, developers, industry experts and researchers to collaborate, disrupt and experiment with and for clients. Headed by Leda Glyptis, it aims to provide an open ecosystem to create ground-breaking solutions which reimagine the future of finance.
Says Glyptis: “London offers a truly unique intersection of technology and finance that cannot be found elsewhere in the world. As a result, it has seen the birth of a powerful and rapidly growing ecosystem of fintech start-ups, entrepreneurs and incubators debating disruptive ideas focused on the future of finance.”
“Constant innovation has led BNY Mellon to become one of the world’s premier financial institutions. The development of new technology has always been instrumental to our success and the new EMEA Innovation Centre is designed to take us even further.”
“We are doing a lot with fintech and always with our clients in mind and at the table. We’re building it from the ground-up and seeking the brightest entrepreneurs and tech engineers Europe has to offer to join us in reimagining the future.”
For the world’s largest financial institutions, innovation has never been more important, or more difficult, explains Kumar: “We are now in an era of disruption with digital-savvy entrepreneurs relentlessly innovating and questioning the status quo. We can’t wait for someone to disrupt us and then react. It’s time to innovate, or die.”
“Innovation centres are already proving an effective means to cultivate the agile start-up mentality needed to remain at the forefront of the market. This is how major financial institutions need to stay relevant and compete in the 21st century. Our ambition is to combine the creativity and energy of Silicon Valley with the banking acumen of the financial capitals of the world, like London and New York. This is where we converge; it’s almost like where London meets Silicon Valley.”
The EMEA Innovation Centre is BNY Mellon’s fifth to open in the last three years with each location serving a different purpose to suit the needs of the company’s internal clients, external clients, consultants and fintech companies. The others include:
Palo Alto, US: Silicon Valley has developed an extraordinary culture of idea and information sharing. As an integral member of the community, BNY Mellon collaborates with the Silicon Valley Financial Services Cloud to host and participate in tech meet-ups where new ideas are freely shared and discussed.
Jersey City, US: Focuses on developing technology products in conjunction with our business strategy and the financial industry.
Pune, India: Was created to allow for service sharing and adaptation of new architecture by collocating technology and operations.
Chennai, India: Focuses on promoting and building talent around BNY Mellon’s ground-breaking digital ecosystem, NEXEN, and leverage data analytics to solve some of the important business problems for the firm.
Pittsburgh, US: Will open in Spring 2016 and will focus on collating technology and operations groups to provide an agile working environment. Also, to promote BNY Mellon as a tech leader to the local universities and utilise the space as a recruitment tool.