Bank of China Opens Its First Global Fintech R&D Center in Singapore
Xu Wei
DATE:  Nov 16 2018
/ SOURCE:  Yicai
Bank of China Opens Its First Global Fintech R&D Center in Singapore Bank of China Opens Its First Global Fintech R&D Center in Singapore

(Yicai Global) Nov. 16 -- Bank of China, one of China's major commercial lenders, has launched its first research and development lab in Singapore to showcase the latest development in advanced technologies.

The Bank of China Innovation Lab will research and promote Fintech achievements such as artificial intelligence, blockchain, and big data, the Beijing-based lender said on its website on Nov. 14. The center will seek cooperation with the government, corporations, universities and other R&D institutions, as well as train new talent.

Bank of China will set up five to eight such labs around the world in the next few years, Singaporean newspaper Lianhe Zaobao reported.

The lab is a milestone in the financial cooperation between the two countries, state-backed Xinhua News Agency reported yesterday Sim Ann, Singapore's Senior Minister of State, as saying. Bank of China is the first Chinese bank to set up such research center in Singapore, which demonstrates its devotion to the region, she added.

Bank of China's first research center shows its determination and confidence in globalization and digitalization, said Liu Liange, the lender's president.

Editor: Emmi Laine

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Keywords:   Bank of China,Singapore,Fintech,AI,BLOCKCHAIN