Barclays reveals new Fintech startups for Accelerator class
First launched in 2014 and powered by Techstars, the three-month programme was created to fast-track the next generation of fintech enterprises towards success.
Companies taking part will partner with a team of Barclays experts and the Techstars worldwide network. Several industry leaders facilitate the programme, providing essential guidance on trouble-shooting, problem-solving and fine-tuning business propositions.
After 13 weeks of mentorship, the companies then highlight their progress and showcase their ideas.
So far, the mentoring and advice received during Accelerator has led to the success of alumni companies such as Cutover, Finch and Sigma Ratings, among many other accelerator graduates – providing customer value across a range of applications in the financial services industry.
Mariquit Corcoran, Chief Innovation Officer at Barclays, said the Accelerator course had helped launch dozens of successful fintech companies. “We’re thrilled to welcome our sixth New York Barclays Accelerator class.”
She explained that to date, 18 courses had been completed with a considerable degree of success. “With 18 programs completed, we have a strong history of delivering a best-in-class experience for our chosen startups, thanks to our extensive network and expertise. In these exceptional times, we are committed more than ever in supporting entrepreneurs who are continuing to transform the future of financial services, and we look forward to helping them achieve their goals.”
Worth US$1.8bn and with more than 180 alumni companies involved, the Barclays Accelerator is one of the largest single-bank-powered portfolios globally. Participating companies will also be eligible for Barclay’s Rise Growth Investments, follow-on investment capital solely focused on the companies accepted into the Barclays Accelerator. The funds allow Barclays to invest up to £10m of follow-on investment capital per Accelerator class.
“The world has deeply changed over the past year and founders have had to pivot in unexpected and new ways,” said Jennifer Jordan, Managing Director at Techstars.
“The founders of our 2021 class have expertly navigated the challenges brought on by COVID-19 and continue to exhibit tenacity and focus in building their businesses. Many of them are building solutions designed to meet the needs of consumers and banks facing a rapidly evolving economic recovery. We are excited to be working alongside these founders to accelerate their growth over the next 13 weeks.”
2021 New York Barclays Accelerator programme class list
· Avenify: Creates financial and career services for people in healthcare, starting with income share agreements for student financing.
· Floodlight: A data platform that enables financial advisors and asset managers to understand non-financial values of their clients and align assets accordingly.
· GravityAI: A platform for enterprise product teams to explore, test, procure, and integrate 3rd party AI algorithms.
· Humanitru: A CRM and fundraising platform for non-profits so that they can run their operations more effectively.
· Julius Tech: A data and analytics platform that automates the development, deployment and support of data science and machine learning applications.
· LittleNewt: A tax preparation and practice management platform for CPA firms that utilizes AI to instantly create tax returns and accurate, real-time estimates.
· Migrations.ml: Machine learning platform to produce the next generation of financial data for the bond market.
· Nossa Data: A platform for corporations to do Environmental, Social and Governance (ESG) reporting, data management and analytics.
· Smash: Financial wellness app that creates personalized payment plans for individuals who want to free themselves of credit card debt.
Webinar: Citizens Bank to provide a transformation roadmap
A live webinar led by Citizens Bank will explore how it managed to digitally transform vital processes.
Pooling together a diverse range of competencies, including finance, software, and automation tech, they will primarily discuss three pertinent agenda topics:
- How Citizens Bank re-imagined its credit card fraud and claims processes
- What building blocks made up its old system and how they were transformed
- How core technologies were leveraged to reduce errors, speed up resolution time, and create better experiences for customers.
With legacy systems continuing to increase operational costs, reduce innovation capacity, and deteriorate reputations in the banking sector, the need to investigate what can be done has never been more urgent. Citizens Bank is offering a frontline perspective and practical advice for what can be achieved.