The Investment Association (IA) has launched its latest initiative: a new three-month-long accelerator programme specifically designed for advanced-stage fintechs looking to provide their services to investment managers.
IA launched the new programme through ‘Engine’, its specialist fintech accelerator and innovation hub for the investment management industry.
OpenFin, a unified workspace for enterprise productivity used by over 90 per cent of major global banks, and FINBOURNE Technology, a provider of cloud-based investment data management software, has been selected to take part in the first cohort of the so-called ‘Advanced Access Initiative’.
Following the latest launch, Engine’s suite now champions fintech firms from their initial first steps and ideation, through to maturity and expansion.
Advance Access Initiative complements Engine’s two existing programmes – ‘SPARKS’, which supports the advancement of pre-seed and early-stage solutions, and the ‘Engine Innovator Programme’ which supports post-seed/series A fintechs.
Gillian Painter, head of membership and engine at the Investment Association, commented: “Innovation is crucial to provide the UK investment management industry with its competitive edge and enhance the customer experience.
“I’m therefore excited to announce the launch of our Advanced Access Initiative to support maturing fintech firms. Working together, we look forward to building industry access, engagement and best practice.”
The Advanced Access Initiative concludes at the IA’s EmTech Global conference on 7 March 2024, where it will also announce the seventh cohort of the Engine Innovator Programme.
Chris Brook, co-founder and head of architecture at FINBOURNE Technology, said: “Collaborating with the Investment Association and its wider member base will enable us to demonstrate the value that our innovative solutions are bringing to the market, as we continue our mission to transform the financial industry.”
Vicky Sanders, chief digital officer at OpenFin, also said: “New technology has great potential to benefit investment managers, with our tried-and-tested solution enabling firms to boost their enterprise productivity through better workspace management, app utilisation and workflow automation.”