New York’s seventh annual FinTech Innovation Lab is now accepting applications for its 12-week program.
Co-founded by Accenture (NYSE:ACN) and the Partnership Fund for New York City, the FinTech Innovation Lab is a program for entrepreneurs that are developing technologies for the financial services sector—particularly in augmented/virtual reality; big data, analytics, including artificial intelligence, machine learning and IoT-generated data; digital client engagement tools; enterprise DevOps and multichannel deployment; RegTech; security, including identity management, biometrics and fraud detection; blockchain; cloud; new credit/underwriting tools; and, disruptive talent management.
Up to eight of the applying fintech companies will participate in the Lab through a competitive process.
Applicants must have at least a working beta version of their technology that is ready to be tested for either the institutional or retail market. The Lab, which begins in April 2017, will partner the selected fintech entrepreneurs with senior-level bank executives and technology entrepreneurs, who will help them refine and develop their technologies and business strategies through a series of workshops, panel discussions, user-group sessions, networking opportunities, one-on-one meetings, and presentations.
The Lab ends in June 2017 with a Demo Day presentation by the cohort to an audience of venture capitalists and financial industry executives.
Financial institutions serving on the selection committee for this year’s applicants include Ally Financial; American Express; American International Group, Inc.; Bank of America; Barclays; BlackRock; Capital One; Citi; Credit Suisse; Deutsche Bank; Goldman Sachs; The Guardian Life Insurance Company of America; JPMorgan Chase & Co; Morgan Stanley; New York Life; and Wells Fargo. Supporting venture-capital firms include Bain Capital Ventures, Canaan Partners, Contour Venture Partners, Nyca Partners, Rho Ventures, RRE Ventures and Warburg Pincus.
Applications are available at www.fintechinnovationlab.com and are due by December 1, 2016. An information session will be held for applicants on November 7.
Since the Lab was founded in 2010, it has provided entrepreneurs from 39 technology companies with mentoring and access to more than 30 bank CEOs, CTOs, CIOs, venture capitalists and technology luminaries.