Russian banks and Mastercard pick fintech startups for Moscow accelerator

Source: Mastercard

Russian financial institutions working together within the framework of collaborative fintech acceleration programme Fintech Lab, namely Ak Bars, VTB 24, Bank Saint Petersburg, Home Credit Bank and Absolut Bank picked 12 fintech startups they are going to mentor and guide through the acceleration programme.

The selection includes

1. 1C-SIM — mobile identity and e-signature verification platform.
2. DataFuel.ru —social media- and transaction-based psychographic profile detection system.
3. FinCase — service to help banks automate portfolio management, focusing on mortgage and collateralized assets.
4. Insurion — platform for buying travel delay insurance.
5. M4B — online receivable based financing service for e-commerce.
6. Panda Money — service that teaches kids financial literacy via gamification.
7. Relation Rate — scoring service that uses social media data and biometric identification tools.
8. Right — robo-advising platform to manage personal investment.
9. Robin — voice-identification and verification biometric service.
10. Rubbles — AI-based platform to personalise banking services for end-users.
11. Sweet card — service offering personalized cashback deals from retailers.
12. uLime — marketplace allowing to additionally monetize bank’s loyal audience.

The programme will be launched on June 5 and last 12 weeks. It will focus on finance industry and bank integration specifics, regulatory context and information security requirements. Strategic consulting for the programme is delivered by Accenture, a major consulting company with experience in hosting acceleration programmes for fintech in London, New York, Hong Kong and Dublin.

Five banks and Mastercard in partnership with Fintech Lab expect to implement pilot projects with the programme graduates. 

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