The incubator, which has reportedly leased a 6,000 square-foot office space in San Diego, will support young technology firms focused on new technologies, including machine learning, artificial intelligence, blockchain, mobile payments, and data science.
“…We’re going to incubate digital capabilities and drive innovation that creates value for our clients,” said Eddy Ortiz, VP of Solution Acceleration & Innovation at RBC.
In addition to commercial banking, RBC provides a range of financial services, including wealth management, corporate and investment banking, insurance and trust and asset management. In the Caribbean alone, it runs 127 branches across seventeen countries, serving more than 16 million clients.
The San Diego facility, EvoNexus says, will serve as a ‘driving force’ exploring the next wave of underlying technologies, such as 5G, for further enabling mobility and digitization of financial transactions.
Its network of technology leaders and strategic partners will help startups raise funds. Since its inception in 2010, EvoNexus has seen US$1.6 billion in funding and startup acquisitions.
“The next generation of our fintech portfolio companies will be disruptive and beneficial for developing infrastructure for new banking and investment models that will rely on unique technology and data,” said EvoNexus CEO and Co-Founder Rory Moore.