Standard Chartered opens new innovation lab

Standard Chartered has opened another innovation lab – dubbed the eXellerator – in Singapore, drawing on the bank’s experience in running a similar establishment in Silicon Valley, called SC Studios. The eXellerator will work closely with all of the bank’s business units, exploring new use cases for emerging technologies and data science. The lab will be housed in the bank’s main office building at the Marina Bay Financial Centre. It has been endorsed by the Monetary Authority of Singapore (MAS), which has been trying to encourage the development of a Smart Financial Centre as part of its Smart Nation plan.