Canada’s RBC eyes Silicon Valley talent at fintech hub

By Matt Scuffham TORONTO (Reuters) – Royal Bank of Canada wants to team up with Silicon Valley's brightest talent to position itself at the forefront of new financial technologies, Vice President of Innovation Gabriel Woo said in an interview. The bank, Canada's biggest lender, has launched an "innovation lab" in Silicon Valley, where it will identify and work with local "fintech" start-ups, Woo said on Wednesday. Having initially viewed the fledgling fintech industry as a threat, banks are now looking to embrace innovations and work with technology companies rather than be left behind as platforms such as blockchain, on which digital currency bitcoin is built, change the financial landscape.

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