Leading financial services firms to mentor financial technology entrepreneurs whose solutions address key industry themes, including sustainability and cryptocurrencies

Ten emerging technology companies have been selected to participate in the 2022 FinTech Innovation Lab New York, a 12-week program founded and run by Accenture (NYSE: ACN) and the Partnership Fund for New York City that helps early- and growth-stage fintechs accelerate product and business development through in-depth engagement with top financial services and venture capital executives.

This year’s participants, selected from nearly 200 applicants globally, are focused on some of the industry’s most important issues, including creating sustainable investments and meeting ESG (environmental, social, and governance) outcomes, improving transparency around cryptocurrencies, and managing security and compliance risks. The fintechs’ solutions use technologies such as artificial intelligence (AI), machine learning (ML), cloud, blockchain and advanced data analytics.

The 2022 FinTech Innovation Lab New York participants are:

• Coverforce (New York) – which partners with national property and casualty carriers to standardize their distribution application programming interfaces (APIs) and build customized platforms for Independent Agency Networks, strengthening the carrier/agency relationship.
• Draivn (Den Haag, Netherlands) – whose platform collects data from any telematics or internet of things devices that transportation fleets are equipped with and converts it into real-time analytics for fleet insurers and brokers.
• Evercity (Berlin) – whose blockchain-based sustainability measurement and investment platform automates issuance, management and monitoring of sustainable finance.
• Ion Channel (Alexandria, Virginia, USA) – whose software supply chain management platform identifies and monitors third-party security risk from software suppliers (vendors, outsourced app developers, contractors, and open source).
• LeapXpert (New York) – whose platform creates an accessible digital record of all business interactions carried out over mobile messaging applications, giving organizations peace of mind that their data will be secure and meet compliance requirements.
• Mark Labs (New York) – whose AI/ML stewardship platform helps asset managers define impact metrics, engage with investors and portfolio companies, and link their capital allocations to the pursuit of real-world ESG outcomes alongside targeted financial returns.
• Messari (New York) – whose market intelligence platform provides in-depth crypto market research, analysis, data, diligence tools, and more for crypto business professionals.
• Railz (Toronto) – whose API provides financial institutions and fintechs with instant, real-time access to their business customers’ financial data from different sources (accounting, banking, tax, e-commerce) to make better data-driven decisions.
• SoLo Funds (Los Angeles) – whose on-demand marketplace allows members to request and fund loans for emergency needs, providing an equitable, community-driven lending alternative.
• Straylight Systems (New York) – whose AI solution automatically creates secure software code that is trustworthy and reliable.

The Lab has helped position New York City as a hub for fintechs and financial innovation, and the solutions from this year’s participants can help the city emerge stronger as it looks to address the societal impacts of the COVID-19 pandemic and be a leader in new tech industries.

“We are excited to see how this competitive class of fintechs and insurtechs will contribute to our city’s recovery and create a more inclusive and innovative economy,” said Maria Gotsch, president and CEO of the Partnership Fund for New York City and co-founder of the FinTech Innovation Lab New York. “Over the past 12 years, the Lab’s alumni have enabled our financial institutions to improve the digital experience for customers, create products that support sustainability, enhance fraud detection tools and diversify the industry’s talent base. We thank our corporate and venture partners for their continued support to establish New York as the premiere city to set up and grow a startup.”

David Treat, a senior managing director at Accenture and co-chair of the FinTech Innovation Lab New York, said, “Fintechs continue to lead the way in transforming financial services, using innovative technologies to help reimagine the customer experience, harnessing data for enhanced decision-making and helping the industry address key societal issues, including improving ESG performance. We look forward to working with this year’s class to refine their solutions and unlock additional industry value.”

The lab will conclude with the 10 companies delivering in-person presentations on their progress to executives across the banking, insurance, capital markets and venture capital sectors on June 23.

The full list of participating financial institutions and venture capital partners can be found here.

About the FinTech Innovation Lab

The FinTech Innovation Lab is a 12-week accelerator program to provide early- and growth-stage fintech companies with access to the world’s leading financial institutions. Founded in 2010 by the Partnership Fund for New York City and Accenture, the Lab partners with over 40 leading financial services firms to offer fintechs unparalleled mentorship and feedback. The Lab has helped establish New York as a fintech leader while growing technology jobs in the New York area. The Lab’s 89 alumni companies have raised US$1.8 billion and created more than 1,500 jobs after participating in the program, and 22 of those companies have since been acquired.

About the Partnership Fund for New York City

The Partnership Fund for New York City is the $170 million investment arm of the Partnership for New York City, New York’s leading business organization. The Fund’s mission is to engage the City’s business leaders to identify and support promising entrepreneurs — in both the for-profit and nonprofit sectors – to create jobs, spur new business and expand opportunities for New Yorkers to participate in the City’s economy. As an “evergreen” fund, realized gains are continuously reinvested. The Partnership Fund Board is led by co-chairs Tarek Sherif and Sanjay Swani. Maria Gotsch, president and CEO, leads the team. More information about the Fund can be found at www.partnershipfundnyc.org.

About Accenture

Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 699,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at accenture.com.

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