In today's rapidly evolving financial services industry, organizations are realizing the importance of innovation hubs to drive growth and stay competitive. These strategic hubs bring together top talent and resources, foster cross-functional collaboration, and provide cutting-edge technology to support experimentation and product development.
What elements define a banking and financial services innovation hub?
It’s a centralization of talent and resources that features top-tier physical design and cutting-edge technology.
With global competition for talent and innovation intensifying, which cities are ahead?
As the financial services industry embraces innovation, occupiers will be confronted with a more geographically distributed innovation ecosystem. Although global leaders are increasingly challenged by higher costs, they still dominate access to capital critical for innovation. Over the past three years, more than 43% of venture capital funding has been deployed in the Bay Area, New York, London, Beijing and Shanghai. Players in the innovation ecosystem will need to maintain their presence in these cities. In the US, AI hiring by the largest banks are escalating: