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IT consulting firm Synechron today announced that it has launched a new office and Financial Innovation Lab (FinLab) in Singapore. The new facility will help build Synechron’s offering in the APAC region and partner with clients on interactive workshops related to key digital strategies like artificial intelligence, blockchain, data analytics and RegTech.

This comes after the appointment of a new APAC Head for Synechron, Mihir Shah. Shah brings extensive capital markets, innovation, and technology experience to the Singapore office, coming from Synechron’s London office. The Singapore office with help strengthen the company’s capabilities in in serving the APAC financial services market. The company will use this as a hub to support clients in the region. Mihir Shah, Head of Synechron APAC, said: “The APAC region is a huge center for financial services innovation, and with our new FinLab, we will be able to accelerate banks’ digital transformation journeys to include even more emerging technologies with AI and data science, machine learning, Blockchain, and more, and create new solutions and further innovation to areas like banking, user experience, and wealth management.”

The FinLab will allow clients to have direct interaction with the latest technology and prototypes in the market, including the company’s Data Science Accelerators. This is Synechron’s 12th FinLab globally. Faisal Husain, Co-founder and CEO of Synechron, said, “Innovation and emerging technologies, and particularly their use in financial services, are evolving every day, and digital services are a large part of that. We are committed to expanding our global footprint to accelerate the digital transformation journey for banks and financial services firms, and our expansion to the APAC region is a strategic one. Our FinLab in Singapore will allow us to innovate with banks and will play a vital role in Synechron’s Accelerating Digital strategy to be the leading digital FS consultancy.” The company would also be increasing its head count in the region across Singapore, Hong Kong, Tokyo and Manila, it said in a statement.

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