The $100m fund will be run out of London, but will make investments globally. This announcement comes on the heels of HSBC's recent launch of a $200m fintech fund.
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Santander latest bank to launch a fintech venture fund
Banks are taking different approaches in trying to keep up with the wave of innovation which may radically transform their sector. Swiss banking group UBS, for example, has over the past few months created a new system of internal working groups with dedicated funding that focus on specific technology projects, while Barclays last month launched a fintech accelerator in London.
