Standard Chartered unveils innovation laboratory in Hong Kong

‘eXellerator’ will act as a testing space for the bank’s fintech products and services.

Standard Chartered has opened an innovation lab inside its building in Kwun Tong, Hong Kong with the aim of providing partners with a common area for testing and creation of financial products and services.

Named eXellerator, the space covers an area of over 10,000 sqft and was designed by co-working operator WeWork.

It will work on exploring technologies particularly in AI, cybesecurity, and banking made easy, as well as coming up with ways of improving client experience.

“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,” said Standard Chartered CEO Mary Huen.

Standard Chartered launched its first eXellerator in Singapore in 2016.