Accenture Joins “The Floor,” a New Financial Technology Hub in Tel Aviv, Israel
June 20 2016 - 2:57AM
Business Wire
Accenture (NYSE:ACN) has joined a new hub of financial
technology (fintech) start-ups based in Tel Aviv, Israel dubbed
“The Floor.” As a supporter, Accenture will evaluate potential
innovations for its clients and potentially its own strategic
investments, while mentoring start-ups and strengthening its ties
to the growing Israeli technology community.
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Leaders from Accenture and The Floor
celebrate at the Tel Aviv Stock Exchange. (Photo: Business
Wire)
The Floor was founded this year with support from institutions,
including Banco Santander, HSBC, Intesa Sanpaolo and RBS, and from
Intel Corporation. It offers fintech entrepreneurs and start-ups a
platform to collaborate with financial services institutions,
technology companies and venture capitalists. In recent years,
fintech investment in Israel has grown dramatically, with the
number of fintech ventures growing from 90 in 2002 to approximately
430 today.
“Over the past half-decade, fintech has become a major force of
innovation in the financial services industry,” said Sushil Saluja,
senior managing director of Financial Services in Europe, Latin
America and Africa at Accenture. “The origins of these innovations
are bound less by geography than by the growing wealth of ideas to
reinvent financial services in the digital age. Israel has long
been a leader in technology and is a growing contributor to the
global fintech community. We are pleased to be part of this
program.”
“We are extremely excited to announce our strategic
collaboration with Accenture,” said Moises Cohen, co-founder and
director at The Floor. “An indisputable global leader in the
financial services and Fintech industries, Accenture is a perfect
match for The Floor and its partners enabling us to address the
industry’s challenges and work together with Fintech entrepreneurs
to find innovative solutions.”
Accenture has been promoting fintech venture innovation since
2010, when it co-founded the FinTech Innovation Lab with the
Partnership Fund for New York City. The Lab is a mentorship and
accelerator program for leading financial technology ventures.
Accenture launched additional labs in London in 2012, and in Hong
Kong and Dublin in 2013. The program is supported by 33 of the
world’s leading financial institutions. Nearly 100 ventures have
participated in the Labs, raising more than $335 million in
financing after the program. Between 2010 and 2015 global
investment in fintech ventures has grown from $1.8 billion to $22.3
billion, according to Accenture’s latest report on the global
fintech landscape.
About Accenture
Accenture is a leading global professional services company,
providing a broad range of services and solutions in strategy,
consulting, digital, technology and operations. Combining unmatched
experience and specialized skills across more than 40 industries
and all business functions – underpinned by the world’s largest
delivery network – Accenture works at the intersection of business
and technology to help clients improve their performance and create
sustainable value for their stakeholders. With approximately
373,000 people serving clients in more than 120 countries,
Accenture drives innovation to improve the way the world works and
lives. Visit us at www.accenture.com.
About The Floor
Based at the Tel Aviv Stock Exchange (TASE), The Floor is the
first Fintech hub of its kind in Israel. The Floor provides a
physical home for local Fintech entrepreneurs and serves as the
focal point of access to Israeli Fintech for leading international
financial players, tech giants and VC’s. In financial institutions
the Trading Floor is the central place for exchanging value. At The
Floor, we trade Fintech ideas and offer a bespoke platform for our
partners and members to engage, collaborate and grow. We cooperate
with all ecosystem players, working together to solve today's
challenges with tomorrow's solutions.
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AccentureSean K. Conway, + 1
917-452-7116sean.k.conway@accenture.com
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