Accenture is banishing the Brexit blues by running its largest ever fintech accelerator programme in London after fielding more than 300 applicants from around the globe.
Despite the uncertainty surrounding Britain's status in the European market, the country's capital and vibrant financial services centre remains a magnet for fintech startups.
Tom Graham, programme director of Accenture’s Fintech Innovation Lab London, says: “The transformation requirements that the financial services industry must undertake to remain relevant arguably pose a bigger challenge than the immediate geo-political uncertainty casting a shadow over the industry."
Accenture has chosen 20 startups to participate in the 12-week programme, representing the largest class in the London Lab’s five-year history. Eight of the 20 shortlisted startups will be selected to present at the programme’s Graduation Day on March 30 to a group of venture capitalists and financial-industry executives.
Artificial intelligence (AI), blockchain and gamification technology all feature heavily in this year’s programme, which for the first time includes a dedicated stream for insurtech entrepreneurs.
Startups passing through the accelerator will receive mentorship from representative of 28 financial institutions.
Sigga Sigurdardottir head of customer and innovation, Santander says: "It’s positive to see London take a leading role in shaping and defining the global fintech innovation agenda. We are committed to supporting innovation in the UK, it is the foundation upon which the country will build a successful technology industry."