Singapore via Switzerland for Innovation Hub
Julius Baer is establishing an innovation center in Singapore. Why does the Swiss bank decide to do this in Asia and not closer to Zurich?
Zurich-headquartered private bank Julius Baer is setting up an innovation lab in Singapore to be at the forefront of digital services and new technologies, a spokesman said finews.asia.
The lab has recently moved to a co-creation space at Julius Baer’s Singapore office in Marina One. The bank orders from December Jonathan Chan as head of the new laboratory and has since led a multidisciplinary team with an innovation and entrepreneurial background.
«Second home market»
Asia, often referred to as a “second home market”, accounts for a quarter of Julius Baer’s business, allowing for sufficient critical mass to develop solutions with scalability and test them immediately.
And through ongoing exchanges with Singapore, Switzerland is not left out as a beneficiary, as newly developed innovations can be quickly introduced in Singapore and rolled out in Singapore and across the bank as a whole.
Irrespective of this, Julius Baer has also been a partner of the F10 Fintech Accelerator in Zurich since 2016. Collaborations with fintech companies have been launched as part of the partnership and activities have gained momentum, according to the bank, especially since F10 also opened an office in Singapore.