Íslandsbanki and LATTICE80 have signed a financial technology cooperation agreement. This spring, the Bank announced its intention to collaborate on developing future fintech solutions providing third-party access to information via secure web services. By using the Bank’s data, it will be possible to develop solutions aimed at providing customers with even better service.
Collaboration with LATTICE80 gives those who develop solutions in cooperation with the Bank a forum for dissemination of their products to a much larger international market. Currently the world’s largest fintech hub, LATTICE80 helps innovative start-ups to develop their products and market them internationally. Today LATTICE80 connects 11,000 start-ups in more than 200 cities.
Íslandsbanki and Reykjavík University recently announced a collaborative project where RU students and Íslandsbanki employees work together on research and development of new fintech solutions. LATTICE80 will strengthen that collaboration even more and will provide assistance with development of solutions for the banking system of the future.
Sigríður Hrefna Hrafnkelsdóttir, Director of Personal Banking, Íslandsbanki on the announcement:
“We are very proud to be a part of the world’s largest fintech community, and we see vast opportunities for our collaborators and their solutions. The financial market technology field is advancing by leaps and bounds, and we have already received a large number of strong applications since we announced our plans to open the Bank up to this type of collaboration. The Icelandic university community is enormously vital, and it provides robust support for rapid developments in Iceland. Cooperation with LATTICE80 will strengthen these developments still further and promote them in an international market, which is of critical importance for our collaborators.”
Joe Seunghyun Cho, Co-founder and Founding CEO, LATTICE80 shares:
“Iceland is one of the most unique places in the world. The culture and geographic location make Iceland a perfect hub to connect the US and European markets. 100% of the energy produced in Iceland is green and awareness of social responsibility is very high. Iceland will be the ideal place to develop and test next generation financial innovation that also has great social impact. We are extremely excited to partner with Íslandsbanki to develop fintech solutions and support university students at the same time. Technology in this decade has been made accessible beyond geographical boundaries. We look forward to seeing great successes coming out of Iceland.”