Fintech Innovation Lab London launches largest programme class
Fintech Innovation Lab London is to launch its largest ever class since the lab was first launched in 2012, with 20 start-ups being selected for its 2017 12-week programme, Accenture has announced.
The lab’s latest programme received over 300 applicants, its largest ever number, with start-ups from North America, the Middle East, Russia, Turkey and the Nordica registering the most interest.
Accenture revealed that start-ups taking part in this year’s programme will be partnering up with senior executives from insurance and banking, who will help them with the development of their technology and business models.
Over 25 financial institutions will be providing mentoring for participating start-ups, including Lloyds Banking Group, HSBC, Nationwide, RBS, Santander and JP Morgan.
The selected start-ups are from areas such as retail banking, corporate and investment banking, insurance and tech4tech. This year’s selection also includes fintech start-ups that provide artificial intelligence, blockchain and gamification technology.
Out of the 20 start-ups chosen, eight will be selected to present their business models to venture capitalists and executives from the finance industry at the programme’s graduation event, which is set to take place on 30th March.
Fintech Innovation Lab London Programme Director Tom Graham commented: “The transformation requirements that the financial services industry must undertake to remain relevant arguably pose a bigger challenge than the immediate geo-political uncertainty casting a shadow over the industry.”
He added: “Innovation must continue. The FinTech Innovation Lab London is helping startups forge ties to thrive at home and abroad. This opportunity offers light-bulb moments to banks and insurers with exciting innovations that can help make financial services work better for consumers and the broader economy.”