International financial services group Manulife has launched its third Lab of Forward Thinking (LOFT) location in Singapore. The other two are located in Boston and Toronto.
The lab is a global exploration and incubation capability, which will serve as a platform for employees to collaborate and devise new technological solutions for the firm’s wealth, asset management, and insurance clients.
Manulife executive vice president and chief information officer Greg Framke said: "We are using emerging technologies and platforms such as blockchain and artificial intelligence to build competitive advantages.
"Now that our Singapore LOFT has launched, our global innovation system can continue to explore new markets and build solutions that will benefit our customers around the world."
Manulife Asia president and CEO Roy Gori said: "Consumers in Asia are looking for tools and services to make their lives easier. There are tremendous rewards on offer for those businesses that take up the challenge. That's why we chose to build a LOFT in Asia and Singapore, with its thriving start-up culture, is the perfect home for that investment."
The LOFT has recently partnered with ConsenSys and BlockApps to improve the on-boarding of new wealth management clients by applying blockchain technologies, as well as also announced collaborations with Nervana Systems and indico data solutions to develop artificial intelligence and deep learning technologies.