Barclays Launches Fintech Accelerator in New York

  • Wednesday, February 11th, 2015
  • Author: Tim Maytom
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new york stock exchange wall streetBarclays and startup accelerator managment firm Techstars have partnered to launch a flagship program in New York in which ten companies will have the chance to shape the future of financial services technology.

The Barclays Accelerator, set to open in July, follows the success of a similar program in London, and will provide ten companies with the opportunity to participate in a thirteen week program of intensive networking, mentoring and development, aimed at supporting breakthrough financial technology innovations.

The companies will be based in a new, custom-built premises built in Manhattan, and will have access to a catalogue of Barclays APIs and data to help them craft their solutions.

The London accelerator, run last year, developed a number of financial tech ideas including a new credit scoring system, a money management tool for consumers and an analytics platform designed to help companies manage risk and reputation.

“At Barclays we recognise that innovation will not solely be driven from within our organisation so we are actively embracing the opportunities and expertise of the start-up ecosystem,” said Derek White, chief design and digital officer at Barclays. “Our Accelerator enables us to help translate emerging technologies into what could be the future of financial services.

“Our goal is New York is to help innovators develop new disruptive fintech technologies, particularly in the investment banking, wealth management and credit cards industries. Were thrilled that we are able to extend our program to New York, a hub for global finance, building upon the successes we have already seen in London.”