18 October 2017
Find out more

Local banks back Ohio fintech accelerator

10 May 2017  |  3839 views  |  0 Innovation

A collection of Ohio financial services firms, including KeyBank and FifthThird, have banded together to back a new fintech accelerator in the state.

Grange Insurance, Huntington, First Federal Lakewood, Root Insurance, and Safelite are among the local players behind Fintech71, named in a nod to the cross-state highway I-71 connecting Ohio via its three largest cities: Cincinnati, Columbus and Cleveland. JPMorgan Chase, a major technology employer in the state, and Silicon Valley Bank are also backing the effort.

The accelerator will open for applications next week, inviting fintech startups to seek one of up to 12 spots on the programme, which will start in September and be based in Columbus. Each finalist team will get a stipend of $100,000 as well as mentoring and the potential for partnerships.

Matt Armstead, executive director, Fintech71, says: "With the creation of this accelerator, we aim to leverage Ohio's tech-savvy talent, attractive cost of doing business and established industry strength to make Ohio a global hotspot for Fintech innovation and growth."

Ken Gavrity, head, commercial payments group, Fintech71, adds: "At KeyBank, we recognize that fintech partnerships are an important source of innovation to drive better client experiences. As a result, we spend significant time helping to establish and support the start-up ecosystem, and being a part of Fintech71 enables us to concentrate some of our efforts here in Ohio with a nexus of strong partners."

Separately, the Venture Center and banking vendor FIS are set to announce the next 10 portfolio companies participating in the VC FinTech Accelerator Program in Little Rock, Arkansas. The top ten firms were hand-picked from a field of 300 applicants.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Eight startups Rise up with Barclays

Eight startups Rise up with Barclays

03 May 2017  |  7052 views  |  0 comments | 9 tweets | 8 linkedin
Standard Chartered supercharges fintech accelerator graudates

Standard Chartered supercharges fintech accelerator graudates

25 April 2017  |  8387 views  |  0 comments | 4 tweets | 7 linkedin
BNP Paribas whittles down startup field for second annual accelerator

BNP Paribas whittles down startup field for second annual accelerator

20 March 2017  |  4700 views  |  0 comments | 6 tweets | 6 linkedin
Russian banks co-operate on fintech accelerator

Russian banks co-operate on fintech accelerator

21 February 2017  |  6861 views  |  0 comments | 14 tweets | 3 linkedin
Royal Bank of Scotland opens Edinburgh HQ to fintech startups

Royal Bank of Scotland opens Edinburgh HQ to fintech startups

13 February 2017  |  10326 views  |  0 comments | 14 tweets | 6 linkedin
Australian Government agency steps in to support fintech accelerator

Australian Government agency steps in to support fintech accelerator

20 January 2017  |  5413 views  |  0 comments | 5 tweets | 2 linkedin
Accenture beats Brexit blues with largest-ever London startup programme

Accenture beats Brexit blues with largest-ever London startup programme

16 January 2017  |  17339 views  |  0 comments | 33 tweets | 20 linkedin

Related company news

 

Related company information

JPMorgan Chase

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comRegister now

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15271 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8466 views comments | 16 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7964 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7435 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6589 views comments | 8 tweets | 16 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job