Ernst & Young LLP has launched Financial Services Innovation Center in New York, which will be a flagship location for EY wavespace, its global growth and innovation network.

According to the official release, the new Union Square Financial Services Innovation Center will serve as a hub for the “Suits+Jeans” approach to innovation, which combines deep business experience with specialists in disruptive trends such as FinTech, blockchain, artificial intelligence, robotics, and data analytics.

"When suits and jeans functions come together, they can unlock an institution's ability to innovate and fundamentally change the way organizations do business," said Roger Park, Innovation & Strategy Lead for the Financial Services Organization, Ernst & Young LLP. "We are excited to serve as a nexus for these encounters. Our Union Square Innovation Center is a place for experimenting with new ideas, pushing boundaries and truly industrializing innovation."

EY said that it plans to work with a local ecosystem of clients, government organizations, the startup community, and academic institutions to bring New York City innovation into the global wavespace network.

"Disruption is a daily reality for organizations today, and it requires a new way of thinking about innovation – one that we are enabling by bringing together our diverse talent and sector knowledge at Union Square and throughout our network," Anthony Caterino, Vice Chair and Regional Managing Partner for the Financial Services Organization, Ernst & Young LLP. "Our ability to collaborate closely with clients on their most complex innovation challenges, marshaling resources from across our organization, is what will allow us to continue to win and maintain our position of leadership in an era of digital enterprise-driven transformation."

EY wavespace was launched in March 2017 to expand the firm’s existing network of innovation centers that aim to help clients face the challenges and opportunities of continuous change, digitization, and disruption.


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