Of the 10 firms to take part in Barclays’ 13-week fintech accelerator program in London, seven are now “exploring opportunities” with the bank, Finextra reports.
The Barclays Accelerator program, offered in partnership with the Techstars global networks, includes mentorship and opportunities for financial technology startups to access industry experts, influencers and potential clients. The program, which will soon open also in New York, covers all areas of fintech, from cybersecurity and artificial intelligence to wealth management, investment banking, big data and cryptocurrencies.
“At Barclays, we’re embracing the digital revolution, exploring innovations early on so that we can help to shape their development and co-create the future of financial services with these startups,” said Barclays’ chief design and digital officer Derek White. “We’re leading the industry with new pioneering technologies, which will be paramount to helping us achieve our ambition of becoming the ‘Go-To’ bank.”
Some of the fintech startups that signed deals with Barclays operate in the emerging sector of blockchain-based fintech. Banks are interested in blockchain technology for many reasons, but the principal reasons are the speed, low cost and traceability of transactions.
A recent report co-authored