Ally Financial Set to Open New Innovation Hub in North Carolina

Ally Financial Inc. (NYSE: ALLY), a Michigan-based digital financial services company, is set to open a new innovation hub in the Camp North End, which is located in Charlotte, North Carolina. The company describes itself as an award-winning online bank and one of the largest full-service auto finance operations. It is also a complementary auto-focused insurance business, a growing wealth management and brokerage platform, and a corporate finance business that offers capital for equity sponsors and middle-market companies.

According to the Charlotte Observer, the bank’s innovation hub, which will be called TM Studio. The company’s teams will notably rotate through the 2,200 square-foot space doing rapid prototyping and design springs for new consumer banking concepts. Jobs will reportedly include user experience designers, product engineers, and web developers. While sharing more details about the hub,  Anand Talwar, the executive with Ally who is overseeing deposit and consumer strategy, stated:

“Our goal through TM Studio is to expand our foundational culture of innovative thinking to further transform business processes, leverage design thinking principles and deliver innovative solutions for consumers.”

Damon Hemmerdinger, co-president at ATCO Properties & Management, which owns the Camp North End building, commented:

“This new lease gives the company the unique ability to expand and further cultivate a center for innovation in the North End Smart District.”

The media outlet added that other tenants in Camp North End include coffee roaster, a custom motorcycle builder, and a nonprofit fostering black tech workers and entrepreneurs.

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