Bancorp’s Cube8 Innovation Lab Could Further Advance Blockchain Technology Development in Fintech

Rage Review : In order to create a new era of financial technology solutions, Bancorp, a financial and banking solutions provider, decided to launch the Cube8 Innovation Lab to strengthen existing business strategies and improve operational efficiency. The lab will focus on developing digital loans, digital payments, blockchain and mobile payment applications. More and more institutions in the banking field are interested in working with financial technology startups.

Translation: Nicole

The Bancorp, a provider of private label financial and banking solutions to non-bank entities, is experimenting with blockchain technology. In an effort to create new-age financial technology solutions for its clients, the company has announced the launch of the Cube8 Innovation Lab.

Cube8 will be a fintech innovation and development studio dedicated to exploring and implementing unconventional and radical financial technology ideas. The company said in a recent press release that Cube8's goal is to create new opportunities for Bancorp. The technology developed by Cube8 will be adopted by the parent company Bancorp, which can further strengthen its existing business strategy and improve operational efficiency. This may also create additional revenue streams.

The Cube8 Innovation Lab will initially focus on developing digital lending, digital payments, blockchain and mobile payment applications. The press release also states that the lab will work with other companies to realize the full potential of the applications being developed.

Pete Chiccino

Pete Chiccino, Chief Innovation Officer at Bancorp, said in the statement:

“Cube8 is an ideal step for The Bancorp from an innovation perspective. While The Bancorp has always invested in innovation across a variety of businesses, we are now making it a priority across the entire organization.”

In addition to blockchain and financial technology, Cube8 Labs will also focus on the regulatory aspects of banking and financial services. It was also announced that the innovation studio will work to improve the efficiency of implementation and compliance requirements regarding AML, KYC and banking privacy laws.

The Bancorp has been actively involved in promoting the development of the fintech sector. The company has been a partner in various industry events in the past. The banking sector is increasingly interested in collaborating with fintech startups and other companies to improve the existing infrastructure.