Financial technology leader FIS (NYSE: FIS) and The Venture Center have announced the ten companies selected to participate in the 2020 FIS Fintech Accelerator program.
In its fifth year, the FIS Fintech Accelerator program is focused on identifying and fostering startup financial technology firms with promising, high-potential technologies that advance the way the world pays, banks and invests. The 2020 program received applications from fintech companies in the U.S. and 29 other countries.
The ten selected startups and their areas of focus are:
Cirrus Secure (Evergreen, CO) - lending automation
Cobbler Technologies (Little Rock, AR) - application development
Dasceq (Dallas, TX) - accounts receivables and collections
Mall IQ (San Francisco, CA and Istanbul, Turkey) - location intelligence
Sequretek (Mumbai, India) - cyber security
Silot (Singapore) - small business services
Stratyfy (New York, NY) - risk-based decision-making
Surfly (Amsterdam, The Netherlands) - co-browsing and video chat technology
TrustStamp (Atlanta, GA) - secure authentication
XpenseOne (Spokane, WA) - expense management automation
Due to the COVID-19 pandemic, the 2020 program will be conducted entirely virtually. The traditional 12-week program has also been extended by six weeks to provide additional opportunities for in-depth mentoring and training for the startup firms from FIS, The Venture Center and participating banks and financial institutions. Each company will also receive a monetary investment.
“The FIS Fintech Accelerator is a key part of our overall investment strategy at FIS to develop and bring to market the most innovative, leading-edge technology innovations for our clients,” said Asif Ramji, Chief Growth Officer at FIS. “The ten companies selected for the fifth year of FIS’ Accelerator program bring a wealth of promising ideas and technologies. We look forward to working with these firms to bring their ideas to life.”
“The FIS Fintech Accelerator program has a demonstrated history of accelerating highly successful companies and expanding financial access in all corners of the world,” said Wayne Miller, Executive Director of The Venture Center. “With our partners at FIS and the State of Arkansas, we’re honored to be a part of bringing cutting-edge technologies to the places and people who need them, particularly in this moment of monumental technological advancement.”
The 2020 program will culminate with a Demo Day on October 14th, where leaders from each of the participating firms will showcase their innovations to financial services leaders and influencers, potential investors and successful entrepreneurs.
Past graduates of the FIS Fintech Accelerator have gone on to secure additional capital funding, win industry awards, and in some cases form partnerships with FIS to bring their innovations to market. As an example, FIS recently integrated technology from 2016 Accelerator graduate Flutterwave to allow Worldpay from FIS merchants to process online payments in Africa.