The New York FinTech Innovation Lab Launches Search for Leading Financial Technology Innovators

  The New York FinTech Innovation Lab Launches Search for Leading Financial
  Technology Innovators

      Accenture and Partnership for New York City Fund Announce Call for
                          Participants for 2013 Lab

Business Wire

NEW YORK -- November 08, 2012

The Partnership for New York City Fund and Accenture (NYSE:ACN) announced the
search for top financial technology innovators who will work with global
financial institutions to bring their ideas to market in the nation’s
financial capital. Winning companies will be part of the FinTech Innovation
Lab, a 12-week program that helps early- and growth-stage financial technology
innovators accelerate product development and gain exposure to top-level
financial industry executives. Applications are available at and are due by December 19, 2012.

The FinTech Innovation Lab is entering its third year of operation.Since
2010, it has provided a dozen technology entrepreneurs with mentoring and
access to more than 30 leading bank CEOs, CTOs, CIOs, venture capitalists and
technology luminaries. The six companies in last year’s program deployed 20
proofs-of-concept at participating financial institutions.

The Lab provides an opportunity for leading financial institutions to help
develop potentially game-changing technologies within their field. It is
supported by Ally Financial, American Express (NYSE: AXP), Bank of America
(NYSE: BAC), Barclays (LSE: BARC), Capital One (NYSE: COF), Citigroup (NYSE:
C), Credit Suisse (VX: CSGN), Deutsche Bank (Xetra: DBK), Goldman Sachs (NYSE:
GS), JP Morgan Chase (NYSE: JPM), Morgan Stanley (NYSE: MS), New York Life,
State Street Corporation (NYSE: STT), and UBS (VX: UBSN). Supporting venture
firms include Bain Capital Ventures, Contour Venture Partners, Rho Ventures,
RRE Ventures, and Warburg Pincus.

“In its first two years, the FinTech Innovation Lab has been uniquely
successful in providing early- and growth-stage fintech companies with
unprecedented access to some of New York City’s most important financial
institutions,” said Maria Gotsch, President and CEO of Partnership for New
York City Fund. “As a direct result of this engagement, the fintech companies
from past programs are expanding their NYC operations and creating jobs. We
look forward to reviewing the next round of applicants for the third
installment of the FinTech Innovation Lab.”

“Technology innovation is one of the most important levers of change in the
financial industry: it can deepen customer relationships, reduce risks and
costs, and create new opportunity,” said Bob Gach, global managing director of
Accenture’s Capital Markets practice. “Accenture is delighted to continue in
its third year co-sponsoring and running this important program. We are proud
of the Lab’s success in helping New York City develop its financial technology
ecosystem and of the strong value it delivers to supporting institutions.”

2013 FinTech Innovation Lab

The FinTech Innovation Lab is a program for entrepreneurs that are developing
cutting-edge technologies for the financial services sector – particularly in
the areas of big data and analytics, mobile and wireless, payments, risk
management, security, and social media and collaboration technologies.

  *The chief technology officers and senior technology executives from the 14
    participating financial institutions will select six entrepreneurs to
    participate in the Lab through a competitive process. Applicants must have
    at least a working beta version of their technology that is ready to be
    tested for either the institutional or retail market.
  *The Lab begins in April 2013, and will partner the chosen entrepreneurs
    with senior-level bank executives and leading technology entrepreneurs who
    will help them fine-tune and develop their technologies and business
    strategies through a series of workshops, panel discussions, user-group
    sessions, networking opportunities, one-on-one meetings and presentations.
    Selected companies will be entitled to receive $25,000 and work space in
    New York City.
  *It culminates in July with a Demo Day presentation by all six participants
    in front of an audience of venture capitalists and financial industry

In September, Accenture launched the affiliated FinTech Innovation Lab London,
which is modeled on the successful New York program. It is supported by many
of the same financial institutions – with the addition of HSBC, Lloyds Banking
Group, and others – and by the Mayor of London and other civic bodies.
Entrepreneurs that are chosen to participate in either the New York or London
Lab may gain access to supporting financial institutions in both cities.

“Barclays is pleased to support the FinTech Innovation Lab, which is uniquely
positioned to foster economic growth and technical innovation for both New
York City and the financial services industry,” said Joe Squeri, Chief
Information Officer for Barclays Corporate and Investment Banking, and Wealth
and Investment Management. “The Lab’s work to connect technology innovators
with financial institutions is helping develop jobs and opportunities in New
York City, so that entrepreneurs can turn their next great idea into business

“Capital One was built around a single innovative concept, and we know from
our own experience that some of the best new ideas are created in dynamic and
creative environments,” said Monique Shivanandan, senior vice president and
chief technology officer. “The FinTech Innovation Lab is a place that allows
new ideas to surface and provides us with exposure to the latest thinking in
banking technology."

“The pace of change in our industry is accelerating, and staying a step ahead
is critical to all of us at Citi,” said Steve Randich, Citi’s Co-Chief
Information Officer. “Participating in the FinTech Innovation Lab is one of
the ways we’re keeping up to speed on – and helping to foster – emerging

“I’m happy that we at Credit Suisse can continue to support the FinTech
program, now in multiple continents, as we try to discover and help
technically innovative initiatives be successful in our industry,” said Nigel
Faulkner, Chief Information Officer, Investment Banking at Credit Suisse.

“JPMorgan Chase is proud to once again participate in and support the FinTech
Innovation Lab,” said Guy Chiarello, Chief Information Officer for JPMorgan
Chase. “Cloud, Mobile, Big Data Analytics, Social Media and Security are five
key disruptive trends currently transforming much of the financial services
industry. As technology continues to provide strategic leverage for our
businesses, we will continue to turn to the innovators and fresh thinkers for
ideas and solutions in these industry changing areas.”

"As a member of the New York City community for more than 167 years, New York
Life is committed to helping drive growth within our community,” said Don
Desiderato, CTO of Investment Information Technology at New York Life
Insurance Company. “Our new partnership with the FinTech Innovation Lab is a
perfect way to continue with this commitment while also supporting New York
Life's strategy of advancing innovation throughout our firm."

“UBS is proud to partner with and support those firms that are leading the
technology revolution in key areas such as Big Data, Mobile, Social and
Cloud,” said UBS Group CTO Andy Brown. “The FinTech Innovation Lab allows
large enterprises like ours to explain our needs and helpsthe participants
deliver solutions that meet them.”

“Warburg Pincus is proud to be a sponsor of the FinTech Innovation Lab,” said
Cary J. Davis, managing director responsible for FinTech Investments at
Warburg Pincus.“The Lab, which connects emerging FinTech companies with
executives at top financial firms in New York City, is critical to the growth
of these new businesses and leverages the City’s role as a global center for
financial services.”

About the Partnership for New York City Fund

The Partnership for New York City Fund ( – formerly the New York
City Investment Fund – is the vision of Henry R. Kravis, founding partner of
Kohlberg Kravis Roberts & Co., who serves as its Founding Chairman. The
Partnership Fund has raised over $110 million to mobilize the city's world
financial and business leaders to help build a stronger and more diversified
local economy. It has built a network of top experts from the investment and
corporate communities who help identify and support New York City's most
promising entrepreneurs in both the for-profit and not-for-profit sectors. The
Fund is governed by a Board of Directors co-chaired by Richard M. Cashin,
Managing Partner of One Equity Partners, and Charles “Chip” Kaye, co-president
of Warburg Pincus LLC. The Partnership Fund is an affiliate of the Partnership
for New York City (, an organization of the leaders of New York
City's top corporate, investment, and entrepreneurial firms. They work in
partnership with city and state government officials, labor groups, and the
nonprofit sector to promote the interest of the city and its neighborhoods.
The Partnership carries out research, policy formulation, and issue advocacy
at the city, state, and federal levels, leveraging the resources and expertise
of its CEO and Corporate partners.

About Accenture

Accenture is a global management consulting, technology services and
outsourcing company, with 257,000 people serving clients in more than 120
countries. Combining unparalleled experience, comprehensive capabilities
across all industries and business functions, and extensive research on the
world’s most successful companies, Accenture collaborates with clients to help
them become high-performance businesses and governments. The company generated
net revenues of US$27.9 billion for the fiscal year ended Aug. 31, 2012. Its
home page is


Sean Conway, + 917-592-5744
NYCIF/PFNYC / Rubenstein Communications
Farrell Sklerov, + 212-843-8289
Press spacebar to pause and continue. Press esc to stop.