BANK of China (BOC) has launched on Nov 14 its first global fintech innovation lab in Singapore to spearhead its worldwide research and development (R&D) activities as well showcase its latest technologies.
The BOC Innovation Lab (Singapore) will also showcase artificial intelligence, blockchain, big data and cloud technologies. The facility housed in BOC Building in Battery Road is staffed by a robotic customer service officer, which can quickly identify individual clients and recall their preferences with its facial recognition capabilities.
Also, customers visiting the lab can experience viewing a car or an apartment via virtual reality(VR). BOC is offering its customers in China such VR service, which enables them to buy the car or apartment that they have viewed in the comfort of their own home or wherever they are. However, this offering is not yet available to customers in Singapore.
BOC Innovation Lab (Singapore) will also establish a training structure to build a pipeline of talents and foster financial innovation and research collaborations with partners such as fintech firms, institutes of higher learning and the government. The R&D and collaboration space is located at BOC Plaza in Middle Road.