Barclays’ Rise Accelerator is a FinTech- focussed accelerator programme started by Barclays at various locations with a Chapter in Mumbai as well, which is called Rise Mumbai. Rise is a network of physical spaces and a virtual community designed to foster financial technology in various countries.The Accelerator yesterday announced its first batch of 10 FinTech startups, that it will accelerate.
The fintech accelerator will provide these ten startups with access to the bank’s technology, insight and expertise via onsite mentors and advisors. It will also enable them to access the international markets. Himanshu Warudkar, director- head of client facing technology, investment banking technology India and program director, Rise Mumbai said in a statement:
“Rise Accelerator gives selected startups and Barclays colleagues the opportunity to work with each other on identifying innovative solutions to real problem statements,”
The 10 startups that have been shortlisted include 4 from Bangalore, 2 each from Mumbai and Delhi and 1 each from Chennai and Hyderabad. These 10 startups are focussed on areas like Artificial Intelligence, Data Integration, Predictive Lending etc to solve real time problems associated with the banking and financial sectors. Ram Gopal chief operating officer, Barclays India, said in a statement:
“Unlike sectors like pharmaceuticals and manufacturing, financial services have been lagging behind in terms of money spent on innovation. Through Rise Accelerators, we hope to create a community on three pillars – Connect, Co-create and Scale,”
The London headquartered company also has plans to support these financial technology startups as an early stage investment which can prove really beneficial to these 10, if they make it big and emerge as strong players in the fin-tech sector in India as well as on the Global Spectrum.