Seven financial tech startups for the 2015 FinTech Innovation Lab London have been shortlisted, and the portfolio ranges from ‘web-based programs assessing real-time geopolitical risks,’ to ‘faster data exchange and reconciliation solutions.”

The seven entrepreneurial efforts have been selected to participate in this year’s FinTech Innovation Lab London, where it was launched by Accenture in 2012, as a collaboration between Accenture and leading financial institutions, supported by the Mayor of London, the City of London Corporation and Innovate UK, according to the news release.

“Being at the cutting edge of technology innovation is crucial to strengthening London’s position as the leading global financial center” said Kit Malthouse, Deputy Mayor of London. “Programs such as the FinTech Innovation Lab are an essential part of the fintech infrastructure and play an important role in ensuring we continue to generate jobs and attract leading financial businesses to London.”

The seven finalists are:

  1. Atsora –  providing financial institutions with innovative tools for small business owners
  2. Cytora – a web-based data to provide real-time geopolitical risk assessments to organizations that operate in volatile, emerging or complex markets
  3. Duco – a technology company that helps financial services firms control and manage complex data
  4. Pontus Networks – assisting businesses increase the performance of their computer systems
  5. Ripjar – platform providing real-time social media monitoring and data analysis
  6. Torusware – helping businesses increase the processing speed of their IT systems, whether these systems are hosted on the cloud or implemented on premise
  7. xWare42 – a software developer whose core product, xPay, allows banks to give customers additional information about their purchases

The applications for the Lab opened in August last year and has been tailor-made to help in growth of startups from the UK, Europe and elsewhere as they innovate with new technologies for the financial services sector. Accenture is hosting the FinTech Innovation Lab London for the third consecutive year, at Level39, Europe’s largest financial technology accelerator space, based in Canary Wharf.

FinTech Innovation Lab London finds support from the likes of Bank of America Merrill Lynch, Barclays, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC and JPMorgan Chase among others.

Read more here.

(Image credit: Jodi, via Flickr)

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