Accenture announced the unveiling of six companies’ cutting-edge financial technology innovations at today’s presentations for the annual FinTech Innovation Lab in New York City. The event, run by the New York City Investment Fund and Accenture, gives six startups the chance to develop new technologies with the guidance and support of some of the world’s leading banks and venture capitalists.
The event’s six participants were chosen in March from a group 90 applicants, and for the past two months they have developed, tested and fine-tuned their innovations. The products provide technology solutions for market data analysis, risk management and data visualization.
According to Accenture, 10 global financial institutions provided mentors, feedback and market access to the six companies throughout the product development process. The participating companies included Bank of America, Barclays Capital, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley, State Street and UBS.
“Innovation is more critical to the U.S. financial services industry than ever,” said Chris Wearing, managing director in Accenture’s U.S. Capital Marketspractice. “Finding growth and new efficiencies in this radically changed marketplace depends heavily on new technologies and better processes.”
“These entrepreneurs show how new ideas and technologies can help institutions adapt and profit,” he added.
Some of the products in this year’s FinTech Innovation Lab include Aqumin‘s 3D AlphaVision, which allows for visual analysis and interpretation of market data, Hanweck Associates‘ analytics engine and Zipmark‘s online checking system.