Standard Chartered boosts fintech presence via opening of second eXellerator in Hong Kong

Maria Nikolova

The new eXellerator, located at the Standard Chartered Bank Building in Central, will focus on leveraging emerging technologies and co-creating solutions for our Corporate, Commercial & Institutional Banking clients.

Standard Chartered is expanding its fintech footprint via the opening of its second eXellerator innovation lab in Hong Kong to further expand an innovative culture across the Bank and to engage the fintech ecosystem to develop innovative solutions that meet the evolving banking needs of clients.

The second eXellerator, located at the Standard Chartered Bank Building in Central, is set to focus on leveraging emerging technologies and co-creating solutions for our Corporate, Commercial & Institutional Banking clients, while the eXellerator in Kwun Tong, which opened last year, will be focused to developing solutions and tackling client pain points for the Retail Banking business.

With its central location, the new eXellerator will be a focal point for engagement with the stakeholders of the Hong Kong fintech ecosystem, including regulators, government- backed organisations, business partners, clients and technology companies.

The new lab is part of the Bank’s SC Ventures unit, which is focused on driving innovation, investing in promising fintechs and implementing new business models to rewire the DNA in banking.

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 first eXellerator in Hong Kong was launched in April 2018.

Alex Manson, Global Head of SC Ventures, commented:

“Hong Kong is not only Standard Chartered’s largest retail market, it is also where some of our most important Corporate Commercial & Institutional Banking clients reside and where there is a vibrant ecosystem for technology and innovation. The new eXellerator lab location in Central gets us to the heart of it and we look forward to many more engagements and partnerships.”

Read this next

Metaverse Gaming NFT

Despite crypto winter, Fastex grabs $23.2 million in Fasttoken token sale

Fasttoken, part of the Fastex web3 ecosystem, has secured $23.2 million in financing through the private and public token sales of its native cryptocurrency Fasttoken (FTN).

Digital Assets

Iran to repay Russian debts in gold-backed stablecoins

A high-ranking member of the Russian parliament confirmed reports that his country was in talks with Iran to create a stablecoin for foreign trade settlements, to replace the dollar, ruble and Iranian rial.

Digital Assets

SEC denies Cathie Wood’s bitcoin ETF for second time

The approval of a regulated crypto derivative is still looking far less likely, as the US regulators have once again denied Cathie Wood’s application for a long-awaited spot bitcoin exchange-traded fund (ETF).

Executive Moves

Pavel Spirin promoted to Scope Markets CEO following Rostro acquisition

Belize-based FX and CFDs brokerage Scope Markets has promoted Pavel Spirin to take on an expanded role as the company’s chief executive officer. He replaces the outgoing CEO Jacob Plattner, who has also been a major shareholder since he resigned his position as managing director at GKFX.

Retail FX goes all-in on alternative investing, launches Rare Sneaker Portfolio

“The concept of curated Portfolios means that our members will be able to invest in categories like art, trading cards, royalties, and real estate without needing to become subject matter experts on individual assets.”

Industry News

State Street taps AWS and Microsoft for cloud and infrastructure solutions

“By standardizing and simplifying our technology operating model, we will be able to more quickly deploy client environments and launch new products and services, while continuing to enhance the resiliency of our technology environment and our business operations.”

Institutional FX

Bitpanda launches Investment-as-a-Service business for banks, fintechs, online platforms

“Financial institutions today have to ask themselves how they aim to cater the increasing demand for modern investing solutions. Building these Individually, means a high startup cost, and products that are often outdated before they are even launched.”

Institutional FX

Options expands market data feeds after partnership with Tools for Brokers

“Our integration with ACTIV Financial marked the beginning of a new era in market data availability and infrastructure. Our teams have come together to provide unparalleled, fully managed market data services alongside Options’ global connectivity and infrastructure.”

Industry News

Recruitment in financial services sector buoyant despite planned mass layoffs

“It remains to be seen what impact this will have on hiring levels within the financial services arena this quarter”, said APSCo, regarding the expected mass layoffs within the financial services sector in England & Wales.