Member Article

Participants named for Accenture’s 2016 FinTech Innovation Lab London

15 fintech entrepreneurs have been selected to participate in Accenture’s 2016 FinTech Innovation Lab London.

The London Lab, launched by Accenture in 2012, is a collaboration between the professional services company and 16 leading financial institutions.

The 12-week mentoring program helps fintech entrepreneurs accelerate product development while giving the participating banks exposure to the technologies they need to stay ahead.

Accenture will return to Canary Wharf’s Level39 to host the FinTech Innovation Lab for the fourth consecutive year.

The 15 selected startups will be partnered with senior-level bank executives who will help them fine-tune and develop their technologies and business strategies. Six of these startups will ultimately be selected to present at an Investor Day in April 2016 in front of venture capitalists and senior financial-industry executives.

Those taking part in this year’s program are: AimBrain, Albert, AlgoDynamix, Clausematch, Contego, Crowdaura, Cutover, PassFort, PayKey, Quotip, SBDA Group, Talent Rank, Undo, Voleo, and ZeroDB. Their innovations include blockchain technology for securities issuance, cognitive computing and real-time risk detection.

“The disruption of financial services by FinTech entrepreneurs continues at speed” said Richard Lumb, group chief executive of Financial Services at Accenture. “We’re incredibly excited about working with this year’s entrepreneurs to make banking better, cheaper and faster. They offer some exciting innovations and have demonstrated exceptional creativity in what has been a record breaking year for applications from more than 30 countries, confirming that London is very much the centre of Europe’s thriving FinTech community.”

Support for the program is industry-wide, with the senior teams involved drawn from the world’s most recognizable financial institutions, including Bank of America Merrill Lynch, Barclays, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, Intesa Sanpaolo, JPMorgan, Lloyds Banking Group, Morgan Stanley, Nationwide, RBS, Santander, Societe Generale and UBS.

Stuart Gulliver, group chief executive of HSBC Holdings plc, said: “HSBC is already working with firms from last year’s programme and we are pleased to be supporting the Innovation Lab again. Matching our experience with the creativity of the selected entrepreneurs is a proven way of developing technologies that bring real benefits to customers.”

This was posted in Bdaily's Members' News section by Ellen Forster .