Accenture and 14 leading financial institutions have opened the application period for the third annual FinTech Innovation Lab London, a 12-week mentoring program that helps early and growth stage financial technology entrepreneurs accelerate product development and gain exposure to leading financial industry executives. 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 through September 14, 2014 at www.fintechinnovationlablondon.co.uk.
This year, Nationwide and Santander have joined in support of the Lab. They, alongside a dozen other major institutions including Bank of America Merrill Lynch, Barclays, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Lloyds Banking Group, Morgan Stanley, RBS, and UBS will help select the Lab s seven participating entrepreneurs and provide senior-level mentoring throughout the program.
Richard Lumb, Group Chief Executive-Financial Services at Accenture said: We are delighted by the growth and progress of the Lab and welcome Santander and Nationwide as its newest supporters. The growing momentum behind the program 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 program.
The FinTech Innovation Lab London is also supported by the Mayor of London, the City of London Corporation and the UK s innovation agency, the Technology Strategy Board. Other supporting organizations include Euclid Opportunities, The Greater London Authority and UK Business Angels Association.
Tony Prestedge, Chief Operating Officer, Nationwide Building Society commented: 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. Nationwide has a strong history of innovation both as a leader in online banking and more recently in areas like mobile banking and digital wallets. Supporting the Innovation Lab is one of the ways we are investing in, and implementing cutting-edge technology to improve customer choice and service. I m excited to be involved in the development of the next generation of technology. Santander UK Executive Director Victor Matarranz commented: The UK is a global leader in financial innovation. Just last month, Santander launched its own fintech fund to build on our philosophy of collaboration and partnership with small and startup companies at Santander.