Barclays Accelerates Innovation Via Company Funding

Barclays is excited to make public the names of the 10 companies set to participate in its program. The anticipated event is the 2018 New York Barclays Accelerator. It is an intensive program that will feature FinTech startups that are in the business of supporting other businesses.

Details of the Barclays’ Program

Powered by Techstars, the program will get companies to work closely with Barclays executives in the next three months. Techstars, on the other hand, is a global startup-preneur ecosystem. Apart from Barclays’ executives, the selected companies will also work with Techstars worldwide network, and other industry leaders.

According to the statement, the ten companies will drive the innovation in capital markets, HR technology, and also consumer FinTech. Furthermore, many of the companies use various techniques to harness artificial intelligence (AI) in product development.

Official Gives More Insight

The Chief Innovation Officer at Barclays, John Stecher, spoke about the program. In his view, Barclays has invested in AI for donkey’s years. “At Barclays, we steadily integrate AI and decision support systems to enhance customer experience”, he says.

Additionally, Stecher added that he’s eager to see how the ten startups will model their business proportions using AI.

He continues, “Barclays focuses on supporting all the parts of our business processes with tools, knowledge, and people. Also, we integrate AI techniques and AI-based products in values we deliver to customers and clients.”

More Insight

Director of Partnership and Program at Barclays, Mariquit Corcoran, noted that 2018 program received many responses. Additionally, she said that the program helps participating firms to step up their business development strategies.

It also provides feedback to all the participants, Corcoran says. She pointed out that the Barclays Accelerator is currently one of the portfolios that is single-bank-powered globally. Also, Corcoran says that the program has attracted 130 companies valued at $650M USD.

 Here Are the Selected Companies

• Aplica; this is a model that leverages knowledge of text to replace humans in a business process.
• FairFrame; an app that relies on the capabilities of AI to enhance thinking about workplace diversity.
• Fintros; a platform that discovers finance careers and introduces anonymous candidates to top industry players.
• Harvest; a consumer-focused, personal finance platform that identifies customers.
• Honeyfi; developed to help couples plan their finances for the future

The Rest of Them Include

• Pluto Money; a Gen Zs financial wellness app, which allows its users to save for life goals.
• ResonanceX; a platform that enables structured investment trading.
• SendFriend; a blockchain-based platform that aims to be a leader in remittance services.
• Vector; a research-oriented AI platform that solves corporate problems in international trade.
• Waffle Insurance; a digital platform that delivers insurance protection policy targeted at covering customer’s need.

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