BNY Mellon is opening an innovation centre in Singapore, its eighth worldwide, to explore the potential of financial technology, or fintech, in Asia.
The firm says developments tested at the centre will feature on Nexen, its online service that brings fintech innovations to its clients.
The firm already has two Indian innovation centres, in Pune and Chennai, as well as four in the US and one in London.
Stephen Lackey, chairman of Asia Pacific for BNY Mellon, said the new centre would support efforts by the Singaporean regulator to develop the city as a "smart financial centre".
The opening was, "a reflection of the region's rapidly developing innovative technology and fintech landscape", he said.
Through its innovation centres and Nexen platform, BNY Mellon claims to be in talks with more than 300 fintech start-ups.
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