Program based by Accenture and Partnership Fund for New York City seeks firms with tech options in areas such because the metaverse, digital property, funds and sustainability
NEW YORK; Oct. 26, 2022 – Applications at the moment are being accepted for the FinTech Innovation Lab New York, a 12-week program co-founded by Accenture (NYSE: ACN) and the Partnership Fund for New York City that helps early- and growth-stage monetary know-how firms speed up product and business growth by way of collaboration with prime monetary companies and enterprise capital companies.
The FinTech Innovation Lab is designed for entrepreneurs creating disruptive applied sciences for the monetary companies business, together with in banking, capital markets and insurance. Now in its thirteenth 12 months, the Lab has helped set up New York City as a aggressive fintech hub for enterprise know-how innovation.
Applications for the 2023 class can be found on-line right here and due by Dec. 1.
Following suggestions from senior executives at taking part monetary establishments, this 12 months’s Lab is looking for firms leveraging modern applied sciences in eight main areas:
- Data: Alternative and artificial knowledge, predictive analytics, synthetic intelligence (AI) primarily based insights, unstructured knowledge, new knowledge sources, fraud administration in insurance, and knowledge privateness;
- Digital Client Engagement: Client acquisition and retention; product customization; and expertise personalization;
- Future of Work: Talent sourcing, onboarding, engagement and retention; digital and hybrid experiences;
- Inclusion & Diversity: Financial wellness and inclusion (un- and under-banked), and variety;
- Metaverse/Web 3.0: Distributed ledger know-how, blockchain, digital property, cryptocurrency options, decentralized finance and insurance; sensible contracts, buyer expertise, digital twins, and e-commerce enablement;
- Payments: Global commerce, international alternate transactions, and infrastructure modernization;
- Risk and Compliance: Automation, threat evaluation, regulatory compliance, digital id and safety options, and data administration; and
- Sustainability: Environmental, social, and company governance (ESG); carbon options; threat identification, reporting and mitigation; sustainable funding; and training options.
Learn extra about the benefits of taking part within the FinTech Innovation Lab New York
Through a aggressive course of, chief know-how officers and senior know-how executives from the greater than 40 taking part establishments will choose the 2023 class. Applicants will need to have a working beta model of their know-how that is able to be examined for both the institutional or retail market.
The Lab will then companion the chosen firms with senior-level executives from the taking part monetary establishments, who will assist them develop and refine their applied sciences and business methods by way of a collection of one-on-one conferences, panel discussions, user-group classes and networking alternatives, together with with main know-how luminaries. The program will start in April and culminate in June with a Demo Day, the place the category will current to an viewers of enterprise capitalists and monetary business executives.
“While fintechs are reimagining every corner of financial services, achieving scale is tremendously difficult,” mentioned David Treat, a senior managing director at Accenture and co-chair of the FinTech Innovation Lab New York. “Through guidance from executives at leading global financial services firms, the lab helps them rethink what’s possible, test new products and accelerate their innovations to unlock value for the industry and customers.”
Rick Barto, a managing director in Accenture’s Insurance business group, mentioned, “Insurance customers want the same personalized and seamless digital experiences that they receive from other service providers, from policy purchase through to claims. In collaboration with carriers, insurtechs are helping to drive industry reinvention, leveraging AI and other technologies to provide greater customization, faster claims response times and improved underwriting capabilities across all insurance categories.”
Maria Gotsch, co-founder of the FinTech Innovation Lab New York and president and CEO of the Partnership Fund for New York City, mentioned: “The FinTech Innovation Lab has established New York as one of the most attractive cities for fintechs to set down roots and grow. Over the last thirteen years, lab participants have gained access to the world’s leading financial institutions, learning first-hand what’s top of mind for the banking, insurance and venture capital sectors. We look forward to seeing what innovative solutions the 2023 class brings, particularly as sustainability and digital currency become major focus areas for the financial industry.”
Since its founding in 2010, the FinTech Innovation Lab New York has assisted entrepreneurs from 99 know-how firms. These program graduates have created greater than 2,000 jobs and raised greater than US$2.2 billion in enterprise financing, and 24 of them have been acquired.
The full checklist of taking part monetary establishments and enterprise capital companions may be discovered right here.
About the Partnership Fund for New York City
The Partnership Fund for New York City is the $180 million funding arm of the Partnership for New York City, New York’s main business group. The Fund’s mission is to interact the City’s business leaders to establish and assist promising entrepreneurs — in each the for-profit and nonprofit sectors – to create jobs, spur new business and broaden alternatives for New Yorkers to take part within the City’s economy. As an “evergreen” fund, realized good points are repeatedly reinvested. The Partnership Fund Board is led by co-chairs Tarek Sherif and Sanjay Swani. Maria Gotsch, president and CEO, leads the crew. More details about the Fund may be discovered at www.partnershipfundnyc.org.
About Accenture
Accenture is a world skilled companies firm with main capabilities in digital, cloud and safety. Combining unmatched expertise and specialised abilities throughout greater than 40 industries, we provide Strategy and Consulting, Technology and Operations companies and Accenture Song — all powered by the world’s largest community of Advanced Technology and Intelligent Operations facilities. Our 721,000 individuals ship on the promise of know-how and human ingenuity on daily basis, serving purchasers in additional than 120 international locations. We embrace the facility of change to create worth and shared success for our purchasers, individuals, shareholders, companions and communities. Visit us at www.accenture.com.
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Contacts:
Michael McGinn
Accenture
+1 312 693 5707
[email protected]
Natasha Avanessians
Partnership for New York City
+1 917 553 3026
[email protected]
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