Fintech firm InvestCloud established innovation centre and incubator in Los Angeles

U.S.-based fintech firm InvestCloud has announced the opening of its first financial technology accelerator and incubator at its Pacific Design Center headquarters in Los Angeles.

Called InvestCloud Innovation Center, the new 10,747-foot facility has a capacity for fifteen teams, consisting of no more than six participants each. Teams from banks, wealth managers, fintech startups and other financial services firms would be able to undertake ‘residences’ to accelerate the development of new apps through access to InvestCloud’s full technology platform, in collaboration with a team of InvestCloud mentors.

“The purpose of the Innovation Center is simple: to help both our clients and startups to deliver a new generation of digital solutions whilst eliminating the risk of development and decreasing the time to market”, John Wise, co-founder and CEO of InvestCloud, said. “Our platform and approach is hyper-modular in nature, providing massive leverage and predictability in delivery of financial apps - this is truly different. No project is allowed to take more than six months. Six people, six months, success.’”

According to the official release, participants will ‘show and tell’ their work on a weekly basis to demonstrate progress to InvestCloud and their own organization. Companies working at the center can also create sub-teams from their own organization, or utilize InvestCloud’s staff and external partners. 

In addition, the Innovation Center will also undertake research and investigation projects into the behaviors of high-net-worth individuals and other audience segments during their customer journey. This insight will be shared with participating organizations to better inform the creation of customer experiences, InvestCloud said.

“As major industry players - including two of the world’s largest banks as well as PwC - recognize the capabilities of our digital platform, we want to share our expertise and collaborate more broadly with internal IT teams and startups, as well as existing software houses”, Mark Trousdale, Executive Vice President at InvestCloud, said. “InvestCloud offers the best environment, incorporating beautifully designed spaces with the highest level of security needed for the financial markets, to create a place where innovation and collaboration occur. In addition, new teams have access to all of our distribution partners and alliances, as well as the ability to connect with our clients, in order to promote and sell their financial apps - another unique approach.”

The company also plans to open Innovation Centers in New York and Soho, London later in 2017.