New York’s 11th FinTech Innovation Lab selects 10 companies

The 2021 edition of FinTech New York Innovation Lab selected ten emerging technology companies.

FinTech Innovation Lab New York is a 12-week program founded by Accenture (NYSE: ACN) and the Partnership Fund for New York City that helps early-stage and growing technology companies accelerate product and business development through deep engagement with top financial services and venture capital executives.

This year’s attendees help financial institutions address key societal challenges, including managing climate risk, operating more sustainably, and developing improved digital products for customers. Their solutions use technologies such as artificial intelligence (AI), machine learning and advanced data analysis.

The participants are:

  • Cinchy (Toronto, Canada) – whose Data Fabric platform is used by complex financial institutions to eliminate integration and data silos.
  • CoverGo (Hong Kong / Singapore) – which offers a configurable, modular, codeless insurance platform powered by more than 500 insurance application programming interfaces (APIs) to automate processes and enable digital transformation to record speed.
  • Delio (Cardiff, UK) – whose white label technology and infrastructure enable the creation of distribution platforms and connected markets to transform private markets – integrating the creation, distribution, transactions and reporting of ‘operations in structured and highly configurable workflows.
  • Quarrio (Berkeley, Calif.) – whose conversational analysis enables sales teams to ask questions about business data and receive answers in seconds.
  • Right foot (San Francisco) – whose APIs allow developers to quickly and easily add student debt repayment capabilities (and soon any type of debt repayment) into any application.
  • Keep (New York) – whose AI-powered claim solution increases recovery potential and reduces effort.
  • SPIN Analysis (London / New York) – whose explainable AI platform, RISKROBOT ™, offers automated data acceleration, preparation and management, model development, regulatory documentation, validation and tracking for credit risk management in banks.
  • The climate service (Durham, NC) – whose software as a service platform enables investors and businesses to integrate climate risk into their strategic planning, risk management and climate risk disclosure processes.
  • Useful (London) – which autonomously collects and quantifies sustainability data on large-scale companies, products, services and portfolios.
  • Vesttoo (Tel Aviv) – which offers data-driven risk modeling for the L&P and P&C insurance markets, providing insurers and pension funds with affordable strategic risk transfer to capital markets, while investors benefit from high yielding uncorrelated investments with the potential for long-term losses.

Selected by senior technology executives from the Lab’s 44 participating financial institutions, the 10 financial technology companies will spend the next 12 weeks receiving intensive product and business development advice, as well as mentoring, share of senior executives in finance, technology and venture capital. Due to the COVID-19 pandemic, the lab will be conducted again virtually this year.

The 10 companies will highlight the progress they have made with partner financial institutions in a virtual presentation on June 24 to leaders in banking, insurance, capital markets and venture capital.

Executives from the following participating financial institutions provide mentoring and laboratory assistance: AIG; AllianceBernstein; Ally Financial; American Express; Aon; AQR Capital Management; AXA XL; Bank of America; Barclays; Black rock; BNP Paribas; BNY Mellon; Capital One; Chubb; CIT; Citi; Swiss credit; German Bank; Fidelity Investments; Global Atlantic; Goldman Sachs; Guardian Life; JPMorgan Chase; KeyBank; Marsh McLennan; MasterCard; Morgan Stanley; New York Life; NFP; Prudential Financial; Rabobank; RBC Capital Markets; Societe Generale; Sumitomo Mitsui Banking Corporation; Synchrony; The DE Shaw group; The Hartford; The Travelers Companies, Inc .; TIAA; US Bank; UBS; USAA; Wells Fargo; and Zurich North America.

Supporting venture capital firms include: Anthemis; Bain Capital Ventures; Canaan; Canapi Ventures; Contour Venture Partners; FinTech collective; Nyca partners; Oak HC / FT; Rho Ventures; RRE Ventures; and Warburg Pincus.



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