Accenture Reveals 15 Entrepreneurs Chosen For 2016 FinTech Innovation Lab

Accenture, a leading global professional services company, on Wednesday announced 15 startups that have been selected to participate in this year’s FinTech Innovation Lab London.

The 2016 FinTech Innovation Lab London participants include 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 press release said.

“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”, said Richard Lumb, group chief executive of Financial Services at Accenture.

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

The London Lab, launched by Accenture in 2012 and now in its fourth year, is collaboration between Accenture and 16 leading 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.

"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”, said Stuart Gulliver, group chief executive of HSBC Holdings plc.

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.