Credit card company American Express has launched a new tech hub in Silicon Valley and is on the hunt for bright new innovators.
In doing so, the firm follows in the footsteps of financial institutions such as Wells Fargo and Bank of New York Mellon, both of which have set up tech incubators in the area in order to cherry pick the best engineers and university graduates.
The intention is to find talent that can help these organisations to build customer-facing mobile payment systems and provide nuanced analytics on consumer preferences, according to the Wall Street Journal.
Chief information officer of American Express Marc Gordon said: “I felt that it was important, as part of a broader talent strategy, to really tap into the talent in Silicon Valley,”
Whitepapers
Related reading
5 ways blockchain can change the cross-border payments landscape
Cross-border payments is a changing sector of the industry, driven by customers demanding little to no friction and encountering multiple steps, intermediaries ... read more
The SME technology revolution | video
The UK is home to 5.4m micro SMEs that have fewer than nine employees, according to the House of Commons library. They ... read more
JP Morgan blockchain network showcases banks’ DLT progress
JP Morgan’s expansion of its blockchain-based interbank payments project signals that major banks are stealing a march on disruptors and startups by ... read more
Security a priority for EU’s INATBA blockchain taskforce
The European Commission’s new blockchain initiative, the International Association for Trusted Blockchain Applications (INATBA), should focus on quashing extant security concerns around ... read more