EY Sets Financial Services Innovation Center

Announcements, Blockchain, FinTech, Group, Innovation | June 23, 2017 By:

Ernst & Young has launched its EY Financial Services Innovation Center in New York.

The new innovation center is part of EY wavespace, the company’s global growth and innovation network. EY wavespace was launched in March 2017 to expand EY’s existing network of innovation centers that aim to help clients face the challenges and opportunities of continuous change, digitization, and disruption.

The new innovation center will function as a core for the Suits+Jeans initiative, which seeks to combine business experience with emerging technologies such as FinTech, artificial intelligence, robotics, data analytics, and blockchain.

The center aims to help financial services organizations achieve breakthroughs at speed and scale. The center will also illustrate EY’s commitment to building a better working world, starting locally. EY 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.

“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.”

“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.”