“The digital realm is redefining how banking will be done,” said Deborah Hopkins, chairman of Citi Ventures, the corporate venturing unit of US-based bank Citigroup, as well as the bank’s chief innovation officer.
Many of Hopkins’ peers are also firm believers in this reality, with new financial entrants into corporate venturing setting a decent early investment pace to ensure their organisations are not wrong-footed by the pace of technological change.
American Express Ventures, which revealed a $100m fund at the end of 2011, has also been investing heavily, including backing glasses company Warby Parker and data company Ness Computing.
This is the early part of our financial sector focus from our November magazine. Go to the PDF for more.