Barclays Signs Contracts with Six Companies from New York Accelerator Program
September 15 2016 - 04:29PM
Business Wire
More game-changing engagements are agreed as
companies from the second New York class of the Barclays
Accelerator present at a demo day
After thirteen weeks of intensive product development, mentoring
and networking, 10 companies will today showcase their innovative
FinTech propositions at a demo day in New York, marking the
culmination of the second New York class of the Barclays
Accelerator. The 10 teams were selected from a pool of nearly 800
applicants, making this the most competitive Barclays Accelerator
program to date.
“This second New York class of the Barclays Accelerator program
has been an outstanding success,” said Michael Harte, Group Head of
Innovation. “Our partnership with Techstars uniquely enables our
network and partners to foster entrepreneurship inside and outside
Barclays, and across our customers and clients. Our program
together opens doors to mentorship and business development, and
enables us to all learn, grow and create value together.”
An audience of more than 500 industry leaders, entrepreneurs,
senior executives and corporate partners will attend the event to
hear from the 10 companies. Each of the companies will present
their propositions on how they are shaping the future of financial
services, and will outline the progress they have made over the 13
weeks since the start of the program.
The companies from this Barclays Accelerator have engaged with a
variety of Barclays' businesses to investigate the implementation
of new technologies:
- Alpha Exchange is working with Barclays
Research to create a pioneering research platform, with the startup
building an innovative open network that brings together the
collective intelligence of the capital markets community
- Windrush is working with Barclays
Research on the implementation of a data visualization platform
leveraging machine learning technology
- AcuteIQ is working with Barclaycard US
to run an online marketing campaign using artificial intelligence
for one of the customer segments, with a view to increase card
applications online at a much lower acquisition cost per
customer
“It is incredible to be part of the thriving FinTech ecosystem
in New York and play an active role in the transformation of the
finance industry. The 10 startups in this class are each tackling a
different part of financial services, providing further indication
that the category is a massive market opportunity. Working closely
with Barclays has proven to be a strong collaboration opportunity
for the startups and the Techstars community,” said Jenny Fielding,
Managing Director, Techstars.
This second New York class of the Barclays Accelerator comes
after running 6 programs in London, New York, Cape Town and Tel
Aviv.
Following the last New York Barclays Accelerator program,
several of the companies continue to work in partnership with
Barclays. Wave, together with Barclays Corporate Banking, is
revolutionizing Trade Finance through the use of blockchain
technology, reducing costs, time and fraud; Chainalysis is working
with Barclays Corporate to develop appropriate governance
frameworks around blockchain technology; and LiveOak is working
with Barclays UK on digitizing and improving the customer service
experience for corporate clients.
More information on the Barclays Accelerator can be found at
barclaysaccelerator.com.
The 10 companies of the 2016 New York class of the Barclays
Accelerator are:
- acuteIQ – Customer acquisition powered
by artificial intelligence
- Alpha Exchange – First open knowledge
network for the capital markets community
- Chroma – A securities exchange for the
small business economy
- Create – The property database of the
future
- ERNIT – The world's first smart piggy
bank
- Morty – The newest, smartest way to get
a mortgage
- Painless1099 – A smart bank account for
tax withholding for independent contractors
- PierceMatrix – An artificial
intelligence engine to identify and remove hackers
- StackSource – A new online platform for
commercial real estate loans
- Windrush – Cutting edge data
visualization for analysts
Techstars
Techstars is a global ecosystem that empowers entrepreneurs to
bring new technologies to market wherever they choose to live. With
dozens of mentorship-driven accelerator programs and thousands of
community programs worldwide, Techstars exists to support the
world's most promising entrepreneurs throughout their lifelong
journey, from inspiration to IPO. Techstars provides access to tens
of thousands of community leaders, founders, mentors, investors,
and corporate partners, allowing entrepreneurs to accelerate the
pace of innovation and Do More Faster™. Techstars supports every
stage of the entrepreneurial journey – from early stage grassroots
community development to more formal opportunities that provide
education, experience, acceleration, funding, and beyond.
About Barclays
Barclays is a transatlantic consumer, corporate and investment
bank offering products and services across personal, corporate and
investment banking, credit cards and wealth management, with a
strong presence in our two home markets of the UK and the US. With
over 325 years of history and expertise in banking, Barclays
operates in over 40 countries and employs approximately 130,000
people. Barclays moves, lends, invests and protects money for
customers and clients worldwide. For further information about
Barclays, please visit our website home.barclays.
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BarclaysAndrew Smith, +1
212-412-7521andrew.x.smith@barclays.com
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