Bladewatch.com

http://www.finextra.com/fullstory.asp?id=18283 

Bank of America is investing up to $25 million over five years in a collaboration with the Massachusetts Institute of Technology (MIT) to create a banking research and development laboratory.

The bank is teaming with MIT’s Media Lab research unit to establish the new centre, which will be located on the MIT campus, and will commit $3-5 million annually to the five year collaboration.

Bank of America says the new centre will serve as an “innovation engine that will seek to transform the ways banking will be conducted in a world of rapidly changing social, economic, and information landscapes”.

Staff at the centre will explore ideas in banking by inventing technologies that reveal and use insights across a wide range of physical and social scales, from one-on-one customer interactions to global transactions.

Very cool, I wonder what innovations in terms of process, the way we do business (as well as the technology) we will see from this research in the next few years. Could we have the bank blog for my account? Account value is, recommendations from my personal account manager are, top transactions by cost are…

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