Fintech in the garage
Another day, another lab opens in California. This time it’s for fintech, in the form of a Digital Innovation Lab from banking and payments technology outfit FIS. It’s leaning in the fact that the ‘seismic shift’ in how financial institutions, retailers and industry at large interact with consumers means digital expertise and innovation will ‘continue to reshape the future of financial services’.
No run of the mill laboratory this, though, as the Digital Innovation Lab will actually be serving as an entrepreneurial ‘garage’, where FIS engineers build ‘new product prototypes’ in a wishful Jobs/Wozniak kind of way. More impressive, perhaps, are FIS’s products to date, which include Cardless Cash and TouchID biometrics.
San Francisco is home to FIS’ fourth innovation lab, with other facilities located in New York City, London and Bangkok.