Wednesday 8 May 2019
The Investment Association (IA) has today revealed the second cohort of FinTech firms which will be joining Velocity, the IA’s innovation hub and FinTech accelerator for the buy-side and asset management industry.
Following a rigorous selection process, five leading FinTech firms have been selected due to their innovative solutions, which aim to increase business efficiency and enhance customer experience across an asset manager's operations:
The second cohort was announced at the IA’s inaugural EmTech Futures event, which brought together 150 senior executives from the asset management industry and FinTech innovators to discuss the trends and technological advances impacting the industry, including big data and AI, which are benefiting the asset management operations.
The event also included a keynote speech from Chi Onwurah MP, Shadow Minister for Science and Innovation, and a demo session with the first cohort of Velocity FinTech firms: 9Fin, Essentia Analytics, Hivemind, ResonanceX, and Util.
Chris Cummings, Chief Executive of the Investment Association, said:
“Competition to join the IA’s accelerator programme continues to grow, with 50 talented FinTech firms vying to take part.
“Congratulations to AxeTrading, BlueFireAI, CUBE, HUBX, and Qwil Messenger who have succeeded in securing their place in the second Velocity cohort.
“Velocity has acted as a catalyst in bringing together the asset management industry and the most cutting-edge FinTech firms, in the search for new and innovative solutions. Our innovation hub is now among one of the largest buy-side communities of FinTech firms in Europe.”
Chi Onwurah MP, Shadow Minister for Science and Innovation said:
“FinTech has the potential to transform financial services, making them more available, accessible and effective. The UK is a world leader in FinTech and I want to see that leadership maintained to drive our future prosperity.
“Accelerators, such as Velocity, have an important role to play in nurturing new talent and helping FinTechs scale up. I would therefore like to congratulate the second cohort of FinTech firms entering the IA’s Velocity programme and look forward to seeing these firms’ products and ideas benefit savers and investors.”
Since the launch of Velocity last year, the IA has rapidly expanded its collaboration with the FinTech sector, and currently has over 100 FinTech firms in the Velocity ecosystem. As part of this growth, in March the IA signed a partnership between European FinTech platform B-Hive and Velocity.
Notes to Editors:
For further information, please contact:
Helen Ayres, Media Relations Manager: Helen.Ayres@theia.org
T +44 (0)20 7269 4620; M +44 (0)7508 724 066
David Parton, Communications Executive: David.Parton@theia.org
T +44 (0)20 7831 0898
About the Investment Association: