Fintechs will receive advice from senior executives at the world s leading



10 Tech Companies Selected for 11th Annual FinTech Innovation Lab New York,


run by Accenture and Partnership Fund for New York City10 Tech Companies Selected for 11th Annual FinTech Innovation Lab New York,run by Accenture and Partnership Fund for New York City Fintech solutions leverage artificial intelligence and data analytics toaddress key industry challenges including sustainability Fintechs will receive advice from senior executives at the world’s leadingfinancial institutionsNEW YORK; April 7, 2021 – Ten emerging technology companies have been selectedto participate in the 2021FinTech Innovation Lab New York, a 12-week program founded by Accenture (NYSE: ACN) and the Partnership Fundfor New York City that helps early- and growth-stage enterprise tech companiesaccelerate product and business development through in-depth engagement withtop financial services and venture capital executives.This year’s participants, selected from more than 200 applications across theglobe, are helping financial institutions address key societal challenges,including managing climate risk, operating more sustainably, and developingimproved digital products for customers. Their solutions use technologies suchas artificial intelligence (AI), machine learning and advanced data analytics.The 2021 FinTech Innovation Lab New York participants are: * Cinchy (Toronto, Canada) – whose Data Fabric platform is used by a growing number of the world’s most complex financial institutions to eliminate integration and data silos. * CoverGo (Hong Kong / Singapore) – which offers a configurable, modular, no-code insurance platform powered by 500+ insurance application programming interfaces (APIs) to automate processes and enable digital transformation at record speed. * Delio (Cardiff, U.K.) – whose white-labeled technology and infrastructure enables the creation of connected distribution platforms and marketplaces for transforming private markets – integrating deal origination, distribution, transaction and reporting into structured and highly configurable workflows. * Quarrio (Berkeley, Calif.) – whose conversational analytics enables sales teams to ask questions about enterprise data and receive answers within seconds. * RightFoot (San Francisco) – whose APIs enable developers to quickly and easily add student debt repayment (and soon, any type of debt repayment) capabilities into any app. * Safekeep (New York) – whose award-winning AI-driven claims solution increases recovery potential and reduces effort by as much as 90%. * SPIN Analytics (London / New York) – whose explainable AI platform, RISKROBOT™, offers 10x acceleration, automated data preparation and management, model development, regulatory documentation, validation and monitoring for credit risk management in banks. * The Climate Service (Durham, N.C.) – whose Climanomics® software as a service platform enables investors and corporations to incorporate climate risks into their strategic planning, risk management, and climate risk disclosure processes. * Util (London) – which autonomously gathers and quantifies sustainability data about companies, products, services and portfolios at scale. * Vesttoo (Tel Aviv) – which offers data-driven risk modeling for the L&P and P&C insurance markets, providing insurers and pension funds with affordable, strategic risk transfer to the capital markets, while investors benefit from uncorrelated, high-yield investments with remote loss possibilities.Selected by senior technology executives from the Lab’s 44 participatingfinancial institutions, the 10 fintech companies will spend the next 12 weeksreceiving intensive product and business-development advice, as well asmentoring, from senior executives in the financial, technology and venturecapital sectors. Due to the COVID-19 pandemic, the Lab will again be conductedvirtually this year. The Lab has helped position New York City as a hub forfintechs and financial innovation, and as the city looks to recover from theeconomic impact of the pandemic, many of the fintechs’ solutions can help itemerge stronger.“We’re excited about the innovation this competitive class of fintechcompanies is bringing to New York City,” said Maria Gotsch, president and CEOof the Partnership Fund for New York City, and co-founder of the FinTechInnovation Lab. “The Lab has spurred fintech’s growth in New York over thepast 11 years, turning the city into a hub for talent and innovation, and nowthe industry is poised to play a major role in its recovery.”David Treat, a managing director in Accenture’s Financial Services group andco-chair of the FinTech Innovation Lab New York, said, “We welcome this year’sclass to the New York Lab and look forward to providing our mentorship andguidance as the companies refine their solutions. Digital innovation withinfinancial services skyrocketed during the COVID-19 pandemic, and fintechs havetruly led the way. Their ability to apply technology innovation in a focused,creative and unencumbered manner can help power new business models forfinancial services and address key societal issues, including climate changeand the future of work.”Rick Barto, a managing director in Accenture’s Insurance industry group, said,“We continue to see disruption and disintermediation across the insurancevalue chain, and the insurtechs in this year’s program continue to push theboundaries with their technology solutions. We look forward to seeing theirprogress when the program concludes.”The 10 companies in this year’s FinTech Innovation Lab New York will highlightthe progress they have made with the financial institution partners in avirtual presentation on June 24 to executives across the banking, insurance,capital markets and venture capital sectors.Executives from the following participating financial institutions providementorship and assistance to the Lab: AIG; AllianceBernstein; Ally Financial;American Express; Aon; AQR Capital Management; AXA XL; Bank of America;Barclays; BlackRock; BNP Paribas; BNY Mellon; Capital One; Chubb; CIT; Citi;Credit Suisse; Deutsche Bank; Fidelity Investments; Global Atlantic; GoldmanSachs; Guardian Life; JPMorgan Chase; KeyBank; Marsh McLennan; Mastercard;Morgan Stanley; New York Life; NFP; Prudential Financial; Rabobank; RBCCapital Markets; Société Générale; Sumitomo Mitsui Banking Corporation;Synchrony; The D. E. Shaw group; The Hartford; The Travelers Companies, Inc.;TIAA; U.S. Bank; UBS; USAA; Wells Fargo; and Zurich North America.Supporting venture-capital firms include: Anthemis; Bain Capital Ventures;Canaan; Canapi Ventures; Contour Venture Partners; FinTech Collective; NycaPartners; Oak HC/FT; Rho Ventures; RRE Ventures; and Warburg Pincus.About the FinTech Innovation Lab The FinTech Innovation Labis a 12-week accelerator program to provide early- and growth-stage fintechcompanies with access to the world’s leading financial institutions. Foundedin 2010 by the Partnership Fund for New York City and Accenture, the Labpartners with 44 leading financial services firms to offer fintechsunparalleled mentorship and feedback. The Lab has helped establish New York asa fintech leader while growing technology jobs in the New York area. The Lab’s79 alumni companies have raised $1.4 billion and created more than 1,200 jobsafter participating in the program, and 18 of those companies have since beenacquired.About the Partnership Fund for New York CityThe Partnership Fund for New York City is the $170 million investment arm ofthe Partnership for New York City, New York’s leading business organization.The Fund’s mission is to engage the City’s business leaders to identify andsupport promising entrepreneurs — in both the for-profit and nonprofit sectors– to create jobs, spur new business and expand opportunities for New Yorkersto participate in the City’s economy. As an “evergreen” fund, realized gainsare continuously reinvested. The Partnership Fund Board is led by co-chairsTarek Sherif and Sanjay Swani. Maria Gotsch, president and CEO, leads theteam. More information about the Fund can be found atwww.partnershipfundnyc.org/.About AccentureAccenture is a global professional services company with leading capabilitiesin digital, cloud and security. Combining unmatched experience and specializedskills across more than 40 industries, we offer Strategy and Consulting,Interactive, Technology and Operations services — all powered by the world’slargest network of Advanced Technology and Intelligent Operations centers. Our537,000 people deliver on the promise of technology and human ingenuity everyday, serving clients in more than 120 countries. We embrace the power ofchange to create value and shared success for our clients, people,shareholders, partners and communities. Visit us atwww.accenture.com.

Contacts:


Michael McGinnAccenture+1 917 452 9458m.mcginn@accenture.comMelissa VolinAccenture+1 267 216 1815melissa.volin@accenture.comNatasha AvanessiansPartnership for New York Citynavanessians@pfnyc.orgCopyright © 2021 Accenture. All rights reserved. Accenture and its logo areregistered trademarks of Accenture10 Tech Companies Selected for 11th Annual FinTech Innovation Lab New York

Fintech solutions leverage artificial intelligence and data analytics to


address key industry challenges including sustainability

Fintechs will receive advice from senior executives at the world’s leading


financial institutionsTen emerging technology companies have been selected to participate in the2021 FinTech Innovation Lab New York, a 12-week program founded by Accenture(NYSE: ACN) and the Partnership Fund for New York City that helps early- andgrowth-stage enterprise tech companies accelerate product and businessdevelopment through in-depth engagement with top financial services andventure capital executives.This year’s participants, selected from more than 200 applications across theglobe, are helping financial institutions address key societal challenges,including managing climate risk, operating more sustainably, and developingimproved digital products for customers. Their solutions use technologies suchas artificial intelligence (AI), machine learning and advanced data analytics.VIDEOMeet the 2021 FinTech Innovation Lab New York Class

The 2021 FinTech Innovation Lab New York participants are:


* Cinchy (Toronto, Canada) — whose Data Fabric platform is used by a growing number of the world’s most complex financial institutions to eliminate integration and data silos. * CoverGo (Hong Kong/Singapore) — which offers a configurable, modular, no-code insurance platform powered by 500+ insurance application programming interfaces (APIs) to automate processes and enable digital transformation at record speed. * Delio (Cardiff, U.K.) — whose white-labeled technology and infrastructure enables the creation of connected distribution platforms and marketplaces for transforming private markets—integrating deal origination, distribution, transaction and reporting into structured and highly configurable workflows. * Quarrio (Berkeley, Calif.) — whose conversational analytics enables sales teams to ask questions about enterprise data and receive answers within seconds. * Rightfoot (San Francisco) — whose APIs enable developers to quickly and easily add student debt repayment (and soon, any type of debt repayment) capabilities into any app. * Safekeep (New York) — whose award-winning AI-driven claims solution increases recovery potential and reduces effort by as much as 90%. * SPIN Analytics (London/New York) — whose explainable AI platform, RISKROBOT™, offers 10x acceleration, automated data preparation and management, model development, regulatory documentation, validation and monitoring for credit risk management in banks. * The Climate Service (Durham, N.C.) — whose Climanomics® software as a service platform enables investors and corporations to incorporate climate risks into their strategic planning, risk management, and climate risk disclosure processes. * Util (London) — which autonomously gathers and quantifies sustainability data about companies, products, services and portfolios at scale. * Vesttoo (Tel Aviv) — which offers data-driven risk modeling for the L&P and P&C insurance markets, providing insurers and pension funds with affordable, strategic risk transfer to the capital markets, while investors benefit from uncorrelated, high-yield investments with remote loss possibilities.Selected by senior technology executives from the Lab’s 44 participatingfinancial institutions, the 10 fintech companies will spend the next 12 weeksreceiving intensive product and business-development advice, as well asmentoring, from senior executives in the financial, technology and venturecapital sectors. Due to the COVID-19 pandemic, the Lab will again be conductedvirtually this year. The Lab has helped position New York City as a hub forfintechs and financial innovation, and as the city looks to recover from theeconomic impact of the pandemic, many of the fintechs’ solutions can help itemerge stronger.“We’re excited about the innovation this competitive class of fintechcompanies is bringing to New York City,” said Maria Gotsch, president and CEOof the Partnership Fund for New York City, and co-founder of the FinTechInnovation Lab. “The Lab has spurred fintech’s growth in New York over thepast 11 years, turning the city into a hub for talent and innovation, and nowthe industry is poised to play a major role in its recovery.”David Treat, a managing director in Accenture’s Financial Services group andco-chair of the FinTech Innovation Lab New York, said, “We welcome this year’sclass to the New York Lab and look forward to providing our mentorship andguidance as the companies refine their solutions. Digital innovation withinfinancial services skyrocketed during the COVID-19 pandemic, and fintechs havetruly led the way. Their ability to apply technology innovation in a focused,creative and unencumbered manner can help power new business models forfinancial services and address key societal issues, including climate changeand the future of work.”Rick Barto, a managing director in Accenture’s Insurance industry group, said,“We continue to see disruption and disintermediation across the insurancevalue chain, and the insurtechs in this year’s program continue to push theboundaries with their technology solutions. We look forward to seeing theirprogress when the program concludes.”The 10 companies in this year’s FinTech Innovation Lab New York will highlightthe progress they have made with the financial institution partners in avirtual presentation on June 24 to executives across the banking, insurance,capital markets and venture capital sectors.Executives from the following participating financial institutions providementorship and assistance to the Lab: AIG; AllianceBernstein; Ally Financial;American Express; Aon; AQR Capital Management; AXA XL; Bank of America;Barclays; BlackRock; BNP Paribas; BNY Mellon; Capital One; Chubb; CIT; Citi;Credit Suisse; Deutsche Bank; Fidelity Investments; Global Atlantic; GoldmanSachs; Guardian Life; JPMorgan Chase; KeyBank; Marsh McLennan; Mastercard;Morgan Stanley; New York Life; NFP; Prudential Financial; Rabobank; RBCCapital Markets; Société Générale; Sumitomo Mitsui Banking Corporation;Synchrony; The D. E. Shaw group; The Hartford; The Travelers Companies, Inc.;TIAA; U.S. Bank; UBS; USAA; Wells Fargo; and Zurich North America.Supporting venture-capital firms include: Anthemis; Bain Capital Ventures;Canaan; Canapi Ventures; Contour Venture Partners; FinTech Collective; NycaPartners; Oak HC/FT; Rho Ventures; RRE Ventures; and Warburg Pincus.

About the FinTech Innovation Lab


The FinTech Innovation Lab is a 12-week accelerator program to provide early-and growth-stage fintech companies with access to the world’s leadingfinancial institutions. Founded in 2010 by the Partnership Fund for New YorkCity and Accenture, the Lab partners with 44 leading financial services firmsto offer fintechs unparalleled mentorship and feedback. The Lab has helpedestablish New York as a fintech leader while growing technology jobs in theNew York area. The Lab’s 79 alumni companies have raised $1.4 billion andcreated more than 1,200 jobs after participating in the program, and 18 ofthose companies have since been acquired.

About the Partnership Fund for New York City


The Partnership Fund for New York City is the $170 million investment arm ofthe Partnership for New York City, New York’s leading business organization.The Fund’s mission is to engage the City’s business leaders to identify andsupport promising entrepreneurs—in both the for-profit and nonprofitsectors—to create jobs, spur new business and expand opportunities for NewYorkers to participate in the City’s economy. As an “evergreen” fund, realizedgains are continuously reinvested. The Partnership Fund Board is led by co-chairs Tarek Sherif and Sanjay Swani. Maria Gotsch, president and CEO, leadsthe team. More information about the Fund can be found atwww.partnershipfundnyc.org.

Contacts


Michael McGinn Accenture +1 917 452 9458 [email protected]Melissa Volin Accenture +1 267 216-1815 [email protected]Natasha Avanessians Partnership for New York City [email protected]Top 10 Fintech Companies in New York to Watch in 2021

Top 10 Fintech Companies in New York to Watch in 2021


CEO Ram Tumuluri “New York is undoubtedly the most powerful city in financeand one of the world’s biggest digital innovation engines. With a rapidlyincreasing ecosystem of companies, funding, talent, educational resources, andFintech accelerators, New York has unique advantages in Fintech and is alreadythe fastest-growing Fintech cluster in the United States. Here are some of themost well-known fintech firms, as well as a few promising newcomers to keep aneye on in 2021”.Ram Tumuluri “Fintech startups in NYC are shaking up the scene, inspired byveteran companies and gaining mentorship from programs like the FintechInnovation Lab.”

Betterment


Betterment is a millennial-friendly digital wealth manager. It is well-knownfor its “Robo-advisor,” which is an algorithm that selects investments andcreates a diversified portfolio for its clients. The company was founded in2008 and only offered automated financial advice till 2017. Betterment hiredits first human advisors two years ago and now employs 240 employees.

Betterment


The Betterment platform (Credit: Betterment)Founded in 2010, Betterment is an online financial advisor designed to improvepeople’s investment decisions, including for retirement planning and buildingwealth.The robo-advisory service boasts a broad range of low cost, tax-efficient anddiversified investment options in stocks and bonds, charging a single annualfee to manage the funds.New customers are asked about their financial situation and saving goals, withBetterment then building a customised portfolio and recommending an amount toinvest to meet individual requirements.These portfolios are then automatically managed on the Betterment platform toensure they hit the allocated targets.

Better Mortgage


The Better Mortgage platform (Credit: Better Mortgage)Online mortgage broker Better Mortgage was founded in 2014 as a platform todigitise the home-buying process in the US.Founder and CEO Vishal Garg claims the traditional mortgage industry to be“opaque and stressful”, lacking in trustworthiness and transparency, andBetter Mortgage’s mission is to rebuild the home-buying process by replacingits ageing infrastructure with “thoughtful technology” to make it faster andmore efficient.The fintech offers instant loan estimates to prospective homebuyers, with nocommission charged and no origination fees.It claims to have facilitated $2bn (1.5bn) in funded loans to more than 7,000customers to-date, and in 2018, doubled its footprint to include over half ofthe states in the US, and trebled its yearly mortgage value to $1.3bn (£982m).

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