Australia's Westpac launches Singapore innovation lab

co.lab will help Australian fintechs crack the Asian market.

Australian bank Westpac has unveiled an Asia innovation hub called co.lab in Singapore as it aims to ease the growth plans of fintech firms zeroing on Asia's fast-evolving fintech market.

Beyond serving as a springboard for Australian fintech, co.lab aims to enhance local partnerships by providing an open and collaborative platform pooling the bank’s capabilities and fintech talent especially in the areas of RegTech, Data Analytics, AI and Payments.

“Westpac’s co.lab is poised to leverage Singapore’s vibrant fintech ecosystem and leading regulatory landscape, as well as the incredible pool of talent as it looks to develop the city as a Smart Financial Centre,” Michael Correa, general manager, Asia Pacific said in a statement.

Westpac’s co.lab in Singapore will leverage Austrade’s Landing Pad, Singapore – one of 5 Landing Pad cohorts that provide market-ready access for Australian startups.

The bank's investment into co.lab coincides with a launch of its inaugural fintech report on the ASEAN in time for the Singapore Fintech Festival. 

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

SMBC, Fujitsu Limited to create data analytics business
Japanese companies reportedly want data-driven operations to improve efficiency.
Retail Banking
India’s credit card spend slumps 9% MoM to 7-month low
Whilst spending grew 12% YoY, the pace of growth has slowed compared to previous months.
CommBank establishes tech hub in Seattle
The first cohort focuses on learning to fast track adoption of agentic AI and gen AI solutions.

Exclusives

Philippine central bank eyes AI rules for banks
Artificial intelligence should not diminish banks’ responsibility to uphold data privacy.
RCBC boosts rural presence with ATM Go
The service, which allows cardless transfers, is now available in all Philippine cities.
BCA superapp drives digital transaction growth
Inter-account transfers were the most widely used service, followed by virtual payments.