Canadian financial technology provider First Global has established a new innovation hub, PayQwik FINTECH Labs, to create innovation and disruption in the fintech space.

The new technology centre will explore new ideas in various areas, such as cybersecurity, network risk management and electronic currencies.

First Global said that the centre will focus on patenting the innovative technology that the company has developed and is developing.

Te company has appointed Bobby Athwal as intellectual property management and strategy consultant and member of advisory board. He will focus on protecting the firm’s core technologies to drive profit, improve market position and create new long-term revenue streams for the company.

First Global chairman and CEO Andre Itwaru said: “The establishment of PayQwik FINTECH Labs is a significant milestone for our Company. Our industry leading technology platform continues to evolve and we have developed unique features which we intend to patent.

“Our goal is to create a portfolio of patents that add significant enterprise value as we march toward achieving our vision of establishing a global interoperable and portable mobile wallet. The addition of Bobby Athwal is an important step toward achieving our objectives for PayQwik FINTECH Labs.”