NewYork - Partnerships between banks and universities are becoming more common. Not only are companies provided with an avenue to recruit young talent, but they also remain ahead of the curve when it comes to incorporating new technology into their businesses.

"We're always out there talking to different universities," Adam Wenchel, co-lead of Capital One’s Center for Machine Learning, told me recently. "We're very fortunate in this county to have a great collection of top-notch universities."

But the McLean, Virginia-based bank's most recent partnership is unique.

Capital One Financial Corp. (NYSE: COF) is teaming up with New York University by becoming a founding partner for what's being hailed as a new diversity initiative.

Capital One will also provide travel funds to disseminate research at conferences and seminars,

A lot of the newest tech innovations come out of academia, Wenchel said, adding: "NYU was on our radar be...

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