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Applications open for FinTech Innovation Lab

By Michelle Stevens

Accenture is inviting applications for its FinTech Innovation Lab London, a startup mentoring programme supported by over a dozen financial institutions.

Following the success of the US version, this will be the third annual Lab held in the UK. The scheme aims to help early and growth stage financial technology businesses accelerate product development and gain exposure to leading industry executives.

This year Nationwide and Santander have come onboard with their support, alongside 12 other major institutions already involved. The organisations will mentor the seven finalists selected to take part in the London-hosted event in 2015.

Richard Lumb, group chief executive, financial services at Accenture, said: “The growing momentum behind the programme shows the value of technology innovation in financial services and the great opportunity London has to lead in this category. We look forward to hearing from the talented young entrepreneurs across the UK and Europe who wish to participate in this year’s programme.”

Tony Prestedge, chief operating officer, Nationwide Building Society, added: “The FinTech Lab is a great way for us to support a culture of innovation and to back a new generation of entrepreneurs from across Europe. Supporting the Innovation Lab is one of the ways we are investing in and implementing cutting-edge technology to improve customer choice and service.”

Entrepreneurs developing potentially game-changing technologies for financial services – particularly in the areas of Big Data and analytics, mobile and wireless, payments, risk management, security, compliance, and social media and collaboration technologies – are invited to apply from now until 14 September at www.fintechinnovationlablondon.co.uk.

The existing FIs involved in the programme are: Bank of America Merrill Lynch, Barclays, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Lloyds Banking Group, Morgan Stanley, RBS and UBS.

The FinTech Innovation Lab is also supported by the Mayor of London, the City of London Corporation and the UK’s innovation agency, the Technology Strategy Board.

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