Fintech Startups And Accelerators Are Going Strong Globally

Fintech Startups And Accelerators Are Going Strong Globally

Original posted by Tom Groenfeldt, Forbes

Fintech labs, accelerators and hackathons are spreading around the world, from New York to London to Asia to Latin America. In New York, where it all started in 2010 with  the FinTech Innovation Lab launched byAccenture and the Partnership Fund for New York City, the latest startup graduates have been announced from the 12-week mentoring program.


Participants were: Digital Asset Holdings, secure distributed settlement and ledger services; EverSafe, protection for older adults from financial abuse and identity theft; MaxMyInterest, cash sweep to a client’s highest yielding account; PierceMatrix, cyber-security third party risk management; Pay Your Tuition, helps high performing students obtain funding; Social Alpha, trading information from social media and news using natural language processing; Ufora, provides answers from large data sets in seconds.

The FinTech Innovation Labs’ 24 alumni companies have raised a total of $176 million in financing after participating in the program, and one alumni company was acquired last year for $175 million.

Accenture’s 2015 FinTech Innovation Lab Asia-Pacific in Hong Kong announced seven startups for this year’s program. They are: Bitspark, a remittance platform that uses bitcoin and blockchain technology to send and receive payments in emerging markets; BondIT, advanced machine-learning algorithms for investment portfolio construction and optimization; Ironfly Technologies, uses neuroscience and cognitive psychology to make data fast, intuitive and visual; Moroku, gamification mobile app for financial literacy and retirement planning; Sparro, uses Ripple protocol to make a cross-border payment as easy as a domestic payment; Sybenetix, enterprise behavioral analytics company that helps hedge funds and asset managers and Uniken, digital security firm with a patented on-demand, software-based scalable digital connectivity and access platform called REL-ID.

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