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Singapore will Be Home to Bank of China’s Global Innovation Lab

China’s 4th largest bank, Bank of China has announced that Singapore will be home to its Bank of China Innovation Lab in their bid to propel the bank to a new era.

This lab intended to serve the following purposes – research & development, collaboration with fintech, talent development and innovation showcase.

Visitors to the lab’s showcase at Bank of China Building on Battery Road can experience ‘ABCD’ technologies – Artificial Intelligence, Blockchain, Cloud and Big Data.

They will also be greeted by a robotic customer service officer equipped with facial recognition capabilities that Bank of China claims will quickly identify individual client and their preferences.

Visitors can also experience how the bank’s customers in China tour car exhibitions or houses for sale at different parts of the country via Virtual Reality (VR) and seal the deal on the spot. A further 1,000 square metres of collaboration and R&D space is located at Bank of China Plaza in Middle Road.

China’s leading role in fintech is a well-known fact, with many of the world’s most innovative fintech companies calling China its home. According to a media statement issued by the bank, it aims is to bring these new fintech services to Singapore.