Fintech
Rutgers-Newark and Fiserv celebrate the opening of an inclusive innovation hub to promote diversity in the fintech sector
Rutgers-Newark and Fiserv, a leading global payments and financial technology provider with a flagship innovation center in New Jersey, celebrated the grand opening of the Rutgers-Newark Fiserv Innovation Hub (iHub). The Innovation Hub is part of the Rutgers-Newark Fiserv Inclusive Innovation Program, a multifaceted initiative designed to leverage diversity to foster innovation in the financial technology sector through research, internships and local entrepreneurship.
Located on Washington Street, the Innovation Hub is designed to foster collaboration and research among faculty, students and local businesses. It will serve as a central resource for inclusive innovation among Fiserv + Rutgers-Newark scholars focused on finance and information technology, including military-affiliated students. In the future, the space will host hackathons, TEDx conferences and collaborations with the fintech ecosystem.
“We envisioned the Innovation Hub as a physical hub to build and expand pathways to business and technology careers for students in our increasingly diverse local communities,” said Rutgers-Newark Chancellor Nancy Cantor. “It is designed to be a place where academic researchers, current practitioners and tomorrow’s practitioners can share different perspectives to create better, smarter fintech solutions.”
“The Innovation Hub is how companies can invest in the future workforce and the future of financial technology,” said Rutgers-Newark Provost Jeffrey Robinson. “I am very excited that Fiserv has invested in our students through scholarships and experiential opportunities, and now through the development of a world-class space for our inclusive innovation activities.”
Since the Inclusive Innovation Program launched last year, research collaborations have been ongoing between Rutgers-Newark students and faculty on projects involving technology and commerce, such as cybersecurity and legal and ethical topics. Fiserv + Rutgers-Newark scholars have also begun learning about the fintech industry and how to prepare for a career in the industry.
“The creation of the Innovation Hub is opening many doors for students and growing local businesses in the city,” said Chinonye Uzowuru, a Fiserv + Rutgers-Newark student and scholar. “This investment by Fiserv in the Newark community will help bridge the gap between marginalized communities and the financial technology sector. I am excited to be a part of this program and to see this initiative come to life.”
“Diversity of perspectives is a key enabler of successful innovation,” said Neil Wilcox, EVP and head of corporate social responsibility at Fiserv and a Newark native. “By providing access to leading technology and space to research, create and collaborate at the Innovation Hub, Rutgers-Newark and Fiserv are equipping the next generation of technology leaders in our community.”
Also part of the Rutgers-Newark Fiserv Inclusive Innovation Program is Rutgers Business School’s Entrepreneurship Pioneer Initiative (EPI), which helps New Jersey residents, who are the first in their families to own a business, develop their own companies .