Two years since its official launch, the IA has seen more than 130 FinTechs join Engine’s ranks, with 15 of these taking part in its accelerator programme. The IA’s FinTech offering has developed rapidly over the last two years, moving from just a FinTech accelerator programme and IA FinTech membership. It has culminated in the launch of its co-working ‘Engine Room’ in Birmingham, and the development of its Global FinTech Partners Programme with city-level representatives from Abu Dhabi, Dubai and Doha, with additional centres being added by the end of Q4 2020. In recognition of this, the IA’s FinTech offering was rebranded from Velocity to Engine in April 2020.

Gillian Painter, Head of Membership and the Engine at the Investment Association, said:

“This month marks two years since the launch of Engine, the IA’s FinTech offering that has moved from strength to strength.

“In the age of COVID-19, we have seen the art of the possible when it comes to tech adoption. That’s why today we’ve launched the hunt for the next cohort of cutting-edge FinTechs to join Engine, drive innovation and ensure the UK investment management industry remains world-leading.”

As the doors open to establish the fourth Engine cohort, FinTech firms with market-viable technology are being invited to apply to participate through the Engine website by midnight on Friday 11 December, as the investment management industry seeks innovative new technological solutions to increase business efficiency and enhance the customer experience.

During the six-month programme, the FinTech firms will benefit from unparalleled access to the IA and industry expertise, and will gain valuable exposure to industry networks and potential clients. Participants will also benefit from mentoring from the Engine Advisory Panel of industry practitioners. The fourth cohort will officially join and participate in the Engine innovator programme in Q1 2021.