The Venture Center announced that applications are now being accepted for the VC FinTech Accelerator, Powered by FIS. Applications end March 31 at 11:59 p.m. CDT
The Accelerator is a 15-week program to accelerate the growth of 10 startups in core banking, payments, mobile, fraud, and security and startups leveraging emerging technologies like cognitive computing, neural networks, and blockchain innovating in financial services.
Through a new fund established and directed by The Venture Center, portfolio companies will receive an initial $50,000 investment. In addition, the companies are eligible to pitch for up to $100,000-300,000 additional investment at the end of the program.
VC FinTech Accelerator cohort members receive mentoring from FIS, plus founders work with and receive advice from FIS leaders. FIS serves the largest players in FinTech, processing 27 billion transactions and $9 trillion annually.
"FIS has a strong track record in innovation that allows our clients to achieve their objectives while empowering them with the tools necessary to stay competitive in the rapidly-changing financial technology industry," said Rob Lee, chief product officer, Global Banking and Payments, FIS. "This collaboration with The Venture Center is an excellent opportunity to promote innovation earlier in the life cycle. Little Rock is a natural fit for this initiative given FIS' history and large employee presence in the market."
"Startups innovating in analytics, cognitive computing, cybersecurity, bank back office, investment management, wearables, and wallets (among others) should apply for this unique program. There is no other place on earth where a founding team can gain access to leaders from the largest global financial software company," said Lee Watson, president and CEO of The Venture Center.