Dan O'Malley, Head of Eastern Bank Labs and former the founder of Perk Street, talks about his approach to building and incubating innovative tech enabled business inside a bank.
O’Malley described to Bank Innovation the process of the lab’s work, which began more than a year ago. “We ran an experiment per month for five months,” he said. “Two of the tests went really well, and we platformed this in the lab. We ran a pilot of one of them last month.” If all goes well, the company — which O’Malley did not detail — may launch in the fall.