Accenture invites startups to apply for sixth London Fintech Innovation Lab

Oct 13, 2017 · finextra.com

Fintech innovation lab

FinTech entrepreneurs are being invited to apply to Accenture’s (NYSE:ACN) sixth FinTech Innovation Lab London, a three-month program where early and growth stage companies receive mentoring and accelerate their business development working directly with top financial institutions, as fintech investments in the UK continue strongly. This year’s Lab has introduced a new stream to help RegTech startups develop their business strategies and fine tune their technologies. It comes at a time when banks are being compelled to open up their customer data and ensure this data is properly protected, with PSD2 and data protection regulations (GDPR) coming into force next year.

Fintech entrepreneurs developing innovative and disruptive technologies for the financial services sector are invited to apply by October 20, in a year that saw surging levels in fintech investment in the UK.

In the first half of 2017, the UK raised nearly £530m in fintech investment, which is nearly close to what was raised in all of 2015 (at £562m), according to Accenture Research analysis of CB Insights data. London is a burgeoning hub with 73 deals so far this year, behind only to New York and Silicon Valley which are both ahead by 14 deals. So far in 2017, London remains the undisputed centre for InsurTech investment in Europe, with 30 percent of all deals in the continent taking place in the city. Insurtech investment increased to a record £218m in the first half of this year, compared to £7.3m the year before.

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