U.S. technology and consulting giant IBM has opened an incubator in the financial heart of the lion city. Does the move indicate more disruption ahead in Asian financial services?
Situated inside the tech vendor's local office at Marina Bay Financial Centre, the new IBM Watson Centre houses both IBM Garage and IBM Studios as well as an incubator for business partners and IBM experts to co-create solutions that leverage IBM's cognitive, blockchain and design capabilities.
Digital Disruption
The new Watson Centre will act as a center of expertise for almost 5,000 IBM cognitive solutions professionals in the Asia Pacific region.
The New York headquartered firm believes that in less than five years, disruptive technologies such as cognitive computing and blockchain will drive dramatic shifts in every industry, including financial services.
Financial Services
Singapore’s largest banking group DBS will work with IBM's Watson Centre at Marina Bay to develop new use cases based on disruptive technologies, and to assist in its strategy to support fintech startups in the region.
«As we shape the future of banking, it is important to work with a thriving innovation ecosystem to tap into disruptive technology and ideas. Our partnership with IBM will help us to continue driving innovation within DBS, as well as assist in the acceleration and development of locally-generated fintech innovations,» said Piyush Gupta CEO of the DBS Group.
