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Accenture and Partnership Fund for NYC Announce 2022 FinTech Innovation Lab Participants

The Partnership Fund for NYC and Accenture announced the 10 companies selected for the FinTech Innovation Lab New York, a preeminent accelerator program that connects startups with financial service firms like Goldman Sachs and BlackRock in a 12-week program.

The selected startups are going to accelerate product and business development through in-depth engagement with top financial services and venture capital executives. In addition, they will explore key topics – including ESG, security and cryptocurrencies – through the application of AI, cloud, blockchain and advanced data analytics.

The companies selected for the 2022 FinTech Innovation Lab are:

  • Coverforce (New York) – which partners with national property and casualty carriers to standardise their distribution application programming interfaces (APIs) and build customised platforms for independent agency networks, strengthening the carrier/agency relationship.
  • Draivn (Den Haag, Netherlands) – whose platform collects data from any telematics or internet of things devices that transportation fleets are equipped with and converts it into real-time analytics for fleet insurers and brokers.
  • Evercity  (Berlin) – whose blockchain-based sustainability measurement and investment platform automates issuance, management and monitoring of sustainable finance.
  • Ion Channel (Alexandria, Virginia, USA) – whose software supply chain management platform identifies and monitors third-party security risk from software suppliers (vendors, outsourced app developers, contractors, and open source).
  • LeapXpert (New York) – whose platform creates an accessible digital record of all business interactions carried out over mobile messaging applications, giving organisations peace of mind that their data will be secure and meet compliance requirements.
  • Mark Labs (New York) – whose AI/ML stewardship platform helps asset managers define impact metrics, engage with investors and portfolio companies, and link their capital allocations to the pursuit of real-world ESG outcomes alongside targeted financial returns.
  • Messari (New York) – whose market intelligence platform provides in-depth crypto market research, analysis, data, diligence tools, and more for crypto business professionals.
  • Railz (Toronto) – whose API provides financial institutions and fintechs with instant, real-time access to their business customers’ financial data from different sources (accounting, banking, tax, eCommerce) to make better data-driven decisions.
  • SoLo Funds (Los Angeles) – whose on-demand marketplace allows members to request and fund loans for emergency needs, providing an equitable, community-driven lending alternative.
  • Straylight Systems (New York) – whose AI solution automatically creates secure software code that is trustworthy and reliable.

The Lab has helped position New York City as a hub for fintechs and financial innovation, and the solutions from this year’s participants can help the city emerge stronger as it looks to address the societal impacts of the covid-19 pandemic and be a leader in new tech industries.

“We are excited to see how this competitive class of fintechs and insurtechs will contribute to our city’s recovery and create a more inclusive and innovative economy,” said Maria Gotsch, president and CEO of the Partnership Fund for New York City and co-founder of the FinTech Innovation Lab New York. “Over the past 12 years, the Lab’s alumni have enabled our financial institutions to improve the digital experience for customers, create products that support sustainability, enhance fraud detection tools and diversify the industry’s talent base. We thank our corporate and venture partners for their continued support to establish New York as the premiere city to set up and grow a startup.”

David Treat, a senior managing director at Accenture and co-chair of the FinTech Innovation Lab New York, said, “Fintechs continue to lead the way in transforming financial services, using innovative technologies to help reimagine the customer experience, harnessing data for enhanced decision-making and helping the industry address key societal issues, including improving ESG performance. We look forward to working with this year’s class to refine their solutions and unlock additional industry value.”

The Lab will conclude with the 10 companies delivering in-person presentations on their progress to executives across the banking, insurance, capital markets and venture capital sectors on June 23.

“The class of 2022 brings the best and brightest fintech ideas yet. We are looking forward to learning more about these founders, their teams and missions as we work together to bring innovative initiatives to the global financial sector,” said Jerome Itty, chief operating officer at AXA XL–Americas.

“The insurance industry is on an essential journey to reshape the customer experience and prepare us for an increasingly digital world,” said Shekar Pannala, vice president, Chubb Group and global chief information officer. “That journey requires continuous innovation from insurers, insurtechs and fintechs. Our partnership with the FinTech Innovation Lab supports startup companies that will accelerate future-proof technologies and help make our industry relevant, vibrant and competitive.”

“In these rapidly changing times, Credit Suisse values more than ever the entrepreneurial ecosystem that the FinTech Innovation Lab nurtures for promising startups—startups that are creating the next generation of innovative solutions that will help address the complex and emerging needs of financial institutions,” said Adrianne Kadzinski, group head of innovation at Credit Suisse.

“Innovation is essential to drive business growth, and strong partnerships in the fintech community play an important role,” said Sean Manahan, head of technology business development at Morgan Stanley. “To that end, we are excited to continue our participation in the FinTech Innovation Lab program and help nurture and grow the next generation of New York’s fintech community.”

“As Prudential strives to solve the financial challenges of our changing world, we see innovation and technology as a key enabler,” said Kjersten Moody, chief data officer at Prudential Financial and FinTech Innovation Lab executive co-sponsor. “Many of this year’s FinTech Innovation Lab participants have potential to expand access to financial and insurance products which is inspiring to see. We look forward to supporting their work which will raise the bar across our industry.”

Author

  • Francis is a journalist with a BA in Classical Civilization, he has a specialist interest in North and South America.

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