Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Barclays says the following startups are among the teams it will work with:
- Alpha Exchange – building an open network to pull together the collective intelligence of the capital markets community alongside Barclays Research
- Windrush – working with Barclays Research on the implementation of a data visualisation platform leveraging machine learning technology
- AcuteIQ – working with Barclaycard US to run an online marketing campaign using artificial intelligence for one of the customer segments, with a view to increase card applications online at a much lower acquisition cost per customer
Barclays says startups from previous batches that it is still working with include Wave, which is using blockchain to try and rethink trade finance. Another is Chainalysis, which is working with Barclays Corporate to develop governance frameworks around blockchain.
Meanwhile, LiveOak is working with Barclays UK on digitising and improving the customer service experience for corporate clients.
Barclays’ 13-week program culminated in a demo day for all 10 startups, which were originally picked from a pool of 800 applicants.
Barclays Accelerator is powered by Techstars.
Barclays, which also runs accelerators in London, Cape Town and Tel Aviv, says this was its most popular program to date.
“This second New York class of the Barclays Accelerator program has been an outstanding success,” says Michael Harte, group head of Innovation.
“Our partnership with Techstars uniquely enables our network and partners to foster entrepreneurship inside and outside Barclays, and across our customers and clients. Our program together opens doors to mentorship and business development, and enables us to all learn, grow and create value together.”
The full list of startups in Barclays most recent New York accelerator include:
- acuteIQ– Customer acquisition powered by artificial intelligence
- Alpha Exchange– Open knowledge network for the capital markets community
- Chroma– A securities exchange for the small business economy
- Create– Property database
- ERNIT– Smart piggy bank
- Morty– Re-thinking mortgages
- Painless1099– A smart bank account for tax withholding for independent contractors
- PierceMatrix –An artificial intelligence engine to identify and remove hackers
- StackSource– An online platform for commercial real estate loans
- Windrush –Data visualisation for analysts
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.