Partnerships In Fintech Innovation

Partnerships In Fintech Innovation

Derek White, chief design and digital officer at Barclays, and Jenny Fielding, managing director at Techstars, talk about the results of the Barclays Accelerator. In addition to putting the startups in contact with mentors, Barclays also gets a first look at technology it may want to use. Most of the graduates of the accelerator also landed deals to work with the bank.

photo by João-Pierre S. Ruth

Making Finacial Sense Out of a Morass of Data

Making Finacial Sense Out of a Morass of Data

Shaheen Malik, CEO of Syndicated Loan Direct, said her company turns fragmented data into actionable information to simplify syndicated loan transactions.

photo by João-Pierre S. Ruth

Digital Protection for the Financial World

Digital Protection for the Financial World

RangeForce CEO Taavi Must said his company offers cybersecurity training via the cloud.

photo by João-Pierre S. Ruth

Cash Is Still King, But Needs Management

Cash Is Still King, But Needs Management

Cashforce is an automated cash management platform for banks and capital-intensive businesses, said CEO Nicolas Christiaen.

photo by João-Pierre S. Ruth

The Expanding Techstars Community

The Expanding Techstars Community

Nicole Glaros, chief product officer with Techstars, spoke about the spread of Techstars across the country and internationally through its partnerships, as well as the growth of its fund.

photo by João-Pierre S. Ruth

Getting A Better Grasp of Customer Info

Getting A Better Grasp of Customer Info

CEO Tommy Nicholas said Alloy's API lets financial services companies collect customer data from disparate sources.

photo by João-Pierre S. Ruth

New York Is an Epicenter for Fintech

New York Is an Epicenter for Fintech

Demo day also brought out Maria Gotsch, president and CEO of the Partnership Fund for New York City, which runs the NY Fintech Innovation Lab.

photo by João-Pierre S. Ruth

Harmony from a Cacophany of Voices on Finance

Harmony from a Cacophany of Voices on Finance

Remesh's CEO Andrew Konya said his company's enterprise platform uses artificial intelligence to gather collective knowledge and sort it into decision-making data.

photo by João-Pierre S. Ruth

Turning Games Into Funding for Those in Need

Turning Games Into Funding for Those in Need

Seeds, said CEO Rachel Cook, turns in-app purchases in mobile games into a way to finance microloans in developing countries. So, when players pay for microtransactions to advance in a game, they can support development efforts beyond their borders.

photo by João-Pierre S. Ruth

No Need for Passwords

No Need for Passwords

Logrr's CEO Julien Denaes said his company has developed software that uses thumbprint scans from smartphones to eliminate the need for passwords to authenticate user access for cloud-based enterprise applications.

photo by João-Pierre S. Ruth

Moving Money Around the World

Moving Money Around the World

CMO Igal Chemerinski said Wayerz is a bank-to-bank software platform for wiring money internationally and handling bank billing, reporting, and other functions more efficiently.

photo by João-Pierre S. Ruth

Digital Receipts for Shipments

Digital Receipts for Shipments

Wave CEO Gadi Ruschin said his company developed an advanced electronic bill of lading, which is a required receipt that contains details on a shipment of merchandise, built on the blockchain.

photo by João-Pierre S. Ruth

Eliminating Paperwork at Enterprises

Eliminating Paperwork at Enterprises

Liveoak co-founder Andrew Ambrose said his company offers videoconferencing and collaboration on any device, to simplify meetings and cut down the paperwork at enterprises.

photo by João-Pierre S. Ruth

Bringing Compliance to Blockchain Technology

Bringing Compliance to Blockchain Technology

Co-founder Jonathan Levin said Chainalysis developed software for following the flow of cryptocurrency to prevent abuses of the financial system.

photo by João-Pierre S. Ruth

Waves of startups keep rolling into the fintech scene, and on Tuesday, 11 companies (see slideshow) graduated from the Barclays Accelerator in New York, diving into this rapidly filling sea.

The 13-week program is run by a partnership between British bank Barclays and startup accelerator Techstars. They have already conducted a version of the accelerator in London, and will bring it next to Tel Aviv, Israel, and Cape Town, South Africa.

Jenny Fielding heads up the New York branch, and she also serves as managing director of the separate R/GA Accelerator in New York, another partnership program for Techstars.

With the Barclays Accelerator in New York finishing its first go-round, Fielding said she was not concerned about the rush of fintech startups coming to the scene. Half the teams that graduated from the class have technology that is applicable in media and advertising, in addition to financial services, she said. “I don’t look at just fintech companies,” she said. “I’m looking for mostly B-to-B companies that can be deployed across various verticals.”

Fintech has built up a lot of momentum lately with more startups emerging in this space. Some have even called the sector “frothy,” as a plethora of players chase similar parts of the market.

The marriage of startups and the financial world was likely inevitable in New York, given the city’s deeply entrenched history with financial institutions. More new companies across the country may want a piece of this sector, but there is a bit of a home-field advantage for startups that are a subway ride away from Wall Street and the rest of the Financial District.

Startups are weaving their way into the financial world in substantial ways here—including through the NY Fintech Innovation Lab, which has run for some five years now; companies such as GoldBean demoing at the NY Tech Meetup; and a few teams from the Entrepreneurs Roundtable Accelerator that are also getting in on the action.

In cities such as London, Fielding said, fintech has seen a lot of newcomers and accelerators jumping into the financial industry’s waters, but the New York scene is at an early stage of its development. Furthermore, several teams in the Barclays New York Accelerator’s first class came from outside the United States in order to get their feet wet here. “I don’t think we’ve hit the peak in fintech in New York yet,” Fielding said.