Five New Firms Join IA’s Fintech Accelerator04.21.2020
The latest five firms chosen to take part in the IA’s FinTech accelerator programme have today been unveiled by the Investment Association (IA), as the trade body announces the programme and FinTech hub will be rebranded ‘Engine’.
— Engine (@IAEngine) April 21, 2020
The six-month FinTech accelerator programme (formerly known as Velocity) aims to connect best-in-class FinTech innovators with investment managers looking to transform the investment process. The role of technology during the coronavirus crisis is fundamental in overcoming the operational challenges experienced, creating efficiencies and increasing competitiveness. The evolution of the IA’s FinTech offering from Velocity to Engine reflects the growth and maturing of the IA’s FinTech ambitions. Since launching, the IA has expanded its hub and accelerator in London, launched its co-working ‘Engine Room’ in Birmingham, and developed global FinTech initiatives and partnerships.
The selected firms will benefit from unparalleled access to the IA and its industry expertise, as well as gaining valuable exposure to industry networks and potential clients. Participants benefit from mentoring from the industry-expert Engine Advisory Panel, which helps firms unlock their potential and implement solutions throughout the sector.
The following firms were selected to take part in the Engine accelerator programme due to the quality of their solutions and focus on key industry problem areas:
• Exabel delivers cloud technology solutions to buy-side firms which enable active fund managers to complement their investment strategies with more data-driven techniques and perspectives, including powerful AI predictive models.
— Exabel (@exabel) April 7, 2020
• Fundipedia is a leading data management platform empowering the asset management industry to govern their data with ease, make smarter, faster decisions, and meet regulatory reporting requirements with confidence.
• ipushpull transforms data-driven workflow and improves efficiency across capital markets with real-time data sharing and workflow automation, delivering fast time-to-market and cost savings for data producers and services.
We're excited to announce that @ipushpull has been selected by @invassoc, a UK industry body of over 250 asset managers, to be part of the @IAEngine accelerator. #DaaS #workflowautomation https://t.co/Tqh1ulfkFY
— Matthew Cheung (@Matthew_Cheung_) April 21, 2020
Remote workers #WFH are quickly evolving and adapting to new ways of working embracing chat and collaboration platforms like @MicrosoftTeams and @Symphony with @ipushpull in focus as remote workers look at their data-driven workflows with fresh eyeshttps://t.co/VVRWD5RdLV
— Matthew Cheung (@Matthew_Cheung_) March 23, 2020
• KiteEdge turns knowledge into advantage through a combination of leading-edge technology and human expertise, empowering asset managers to maximise their value by identifying insights and delivering improved outcomes.
We're proud to be part of the first cohort for the @IAEngine fintech accelerator programme (formerly Velocity). The Engine Advisory Panel were very impressed with our proposition and we look forward to working together. #connecttheunconnectedhttps://t.co/pfnZYVHPP3 pic.twitter.com/K9DGvHRocR
— KiteEdge (@KiteedgeLtd) April 21, 2020
• Rungway, the workplace advice platform, is a management tool to foster a safe, inclusive culture and strengthen your conduct & culture framework.
— Rungway (@rungway) April 21, 2020
Chris Cummings, Chief Executive of the Investment Association, said:
“18 months after the launch of our FinTech offering, our accelerator programme is moving from strength to strength. The COVID-19 pandemic is a clear reminder now more than ever that firms should be pursuing technological avenues to help resolve the operational business challenges of the day.
“The unveiling of Engine is fitting of our ambition to drive broader adoption of new technologies across investment management. Engine will continue to act as a catalyst for industry innovation, bringing together buy-side focused tech solutions addressing current and future business needs.
“Congratulations to Exabel, Fundipedia, ipushpull, KiteEdge and Rungway who have succeeded in securing their place in the first Engine cohort.”
The IA has also announced the development of its Global FinTech Partners Programme in collaboration with PwC, which aims to minimise the cost of market entry for international FinTechs, enhance FinTechs market reach and increase inward investment by building strong relationships with international financial centres. One way it will achieve this is through a new section of the Engine website, built in collaboration with city-level representatives from Abu Dhabi, Dubai and Doha, aimed at promoting, sharing insight and connecting FinTechs, governments, regulators, industry associations and other FinTech hubs.
Engine will also feature a new taxonomy and search functionality (in partnership with The Disruption House) on its new website that allows for quick identification of solutions across the value chain, asset classes and technologies, providing a single source directly applicable to the specific needs of investment management businesses.
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