Seven Technology Entrepreneurs Selected for FinTech Innovation Lab London

  Seven Technology Entrepreneurs Selected for FinTech Innovation Lab London

 Accenture-Supported Programme to Foster IT Innovation in Financial Services
                       Attracts Entrepreneurs to London

Business Wire

LONDON -- January 30, 2013

Seven financial technology entrepreneurs have been selected to participate in
the inaugural FinTech Innovation Lab London launched by Accenture (NYSE: ACN),
leading banks and venture capital companies last year. The Lab is designed to
nurture early-stage companies developing new technologies for the financial
services sector.

The FinTech Innovation Lab London is a collaboration between Accenture and
leading financial institutions in London, supported by the Mayor of London,
Boris Johnson, the City of London Corporation and the Technology Strategy
Board. It provides senior level mentoring for entrepreneurs to help them
develop and commercialise their innovations, and connect with potential
customers at top institutions. Accenture is hosting the 2013 FinTech
Innovation Lab London, at Level39, Europe’s largest financial technology
accelerator space, based in Canary Wharf.

The seven start-ups – chosen by leading industry executives from a large field
of applicants from the UK and internationally – include: BehavioSec,
Calltrunk, Digital Shadows, Growth Intelligence, Kiboo, Open Bank Project and
Waratek. Their innovations range from cloud development tools and “Big Data”
security and analysis applications, to search engines for voice recordings,
“behavioural biometric” solutions for fighting fraud, open source
technologies, and personal financial management tools for young people.

Richard Lumb, Group Chief Executive-Financial Services at Accenture said: “It
was a tough task selecting from such a strong field of applicants but we are
delighted with the seven chosen entrepreneurs. We believe these innovations
can add significant value to the financial sector, and bring benefits to both
businesses and consumers.”

London's Deputy Mayor for Business and Enterprise, Kit Malthouse, said: “This
project has great potential to bring radical new innovations to our financial
services industry and strengthen London’s position as one of the world’s
leading financial centres. I wish the best of luck to this year’s FinTech
Innovation Lab London’s innovators and entrepreneurs.”

The chosen entrepreneurs will be mentored for 12 weeks by leading executives
from financial services, venture capital and angel investment firms through a
series of panel discussions, workshops, leadership coaching and networking
opportunities. At the end of the programme, the entrepreneurs are given an
opportunity to present their concepts to potential investors and participating
industry executives.

Supporting financial institutions include Bank of America Merrill Lynch,
Barclays, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan
Chase, Lloyds Banking Group, Morgan Stanley, RBS, UBS and VocaLink, the UK
national payments infrastructure provider. Other participating organisations
include Euclid Opportunities, the Greater London Authority and UK Business
Angels Association.

The FinTech Innovation Lab London is modelled on a similar programme that was
co-founded by Accenture and the Partnership for New York City Fund, which has
already proved highly successful in helping a dozen young financial technology
start-ups.

2013 FinTech Innovation Lab London participants:

  *BehavioSec. Based in Sweden, BehavioSec has developed a “behavioural
    biometric” software platform that helps confirm desktop, website or mobile
    users’ identities by analysing the unique patterns in how they type, click
    and swipe on their computers and mobile devices. It offers companies an
    additional layer of security beyond conventional usernames and passwords
    to help fight fraud.
  *Calltrunk. UK-based Calltrunk has created a cost-efficient call-recording
    solution that provides a search engine allowing users to do text searches
    of audio, such as recordings from call centres, videos, lectures and
    conference calls. By making the review and management of recordings as
    simple as searching through email archives, it can help companies improve
    customer service, compliance, productivity and operational efficiencies.
  *Digital Shadows. The UK-based company offers a cyber-monitoring service to
    help identify and monitor companies’ so-called “digital footprints” –
    information posted online by organisations and employees that amasses over
    time via social media, cloud services and mobile devices. The service can
    give companies an outside-in view of their digital presence and help
    address potential security vulnerabilities.
  *Growth Intelligence. UK-based Growth Intelligence provides companies with
    timely sales-leads, helps improve portfolio and risk management and
    informs marketing strategies. Nearly all companies release digital
    information on the web; Growth Intelligence interprets that information
    using predictive analytics to deliver real-time intelligence on the
    activity and performance of companies throughout the economy.
  *Kiboo. US-based Kiboo has developed a personal financial management
    platform geared for young adults from the age of 13. It positions the
    company’s insights about younger generations’ habits and expectations at
    the centre of its communications. The platform provides online and mobile
    tools, including social networking features, to help users learn about
    finance, earn money through savings, work and investments, and save, spend
    and give more effectively.
  *Open Bank Project. Created by Berlin, Germany-based TESOBE, the Open Bank
    Project is an open source Application Programming Interface (API) and
    management platform for the banking industry that enables banks and
    third-party developers to more rapidly and cost-effectively deliver
    tailored applications and services to their customers. For example, TESOBE
    has used the platform to develop a "social finance" application for banks
    that helps clients, such as non-profits, be more financially transparent
    by reporting transactions to outside stakeholders.
  *Waratek. Dublin, Ireland-based Waratek has created a new technology that
    could help companies significantly reduce their infrastructure costs. It
    makes it possible to use one of the world’s most common programming
    languages (Java) to develop cloud-based applications and to transition
    existing applications to the cloud. By increasing the amount of Java
    applications that can run on a single server – through a new form of “Java
    virtualization” - it can dramatically reduce infrastructure costs, lower
    development costs and promote cloud usage, helping institutions build and
    improve key areas like online and mobile services more quickly and
    efficiently.

"Financial services firms are reliant on innovative technology to help provide
new products and services to their customers, and also to help them win new
customers in an increasingly complex and competitive marketplace,” said Garry
Tait, Head of IT Operations, HSBC Technology & Services. “The quality of the
companies attracted by the FinTech Innovation Lab London is excellent, and is
one of the main reasons why we at HSBC are so committed to supporting it."

“Citi is proud to partner with the FinTech Innovation Lab here in London,
global leader in financial services, technology and a key hub for
entrepreneurs. We are delighted to collaborate with and mentor some of the
best minds in the technology world.” said Terry O’Leary, Citi’s Head of
Operations and Technology for Europe, Middle East and Africa. “At Citi,
ingenuity is at the heart of everything we do; with innovation labs in Dublin,
New York, Poland, San Francisco and Israel. We see innovation as a key driver
of business growth and delivering great products and services to our customers
in the highly competitive business environment we operate in.”

“We are excited to be part of this inaugural year for FinTech Innovation Lab
London after such a wonderful experience working with the companies in New
York. In the financial services industry, we continuously try to discover new,
innovative products. Through this program, we look forward to supporting
technology entrepreneurs who can help contribute to the innovation pipeline
for our industry,” said Jason Shane, EMEA Head of Equities & Prime Services
Technology at Credit Suisse and Raymond Mulligan, CIO Front Office Technology,
EMEA at Credit Suisse.

Guy Chiarello, Chief Information Officer for JPMorgan Chase and one of the
participating mentors, said: "Technology is a strategic differentiator for
financial services firms. We are thrilled to be participating in and
supporting the FinTech Innovation Lab London, and look forward to fostering
this class of talented technology innovators.”

Shaygan Kheradpir, Chief Operating Officer of Barclays Retail and Business
banking said: “It’s great that these seven entrepreneurs have been selected to
participate in the FinTech Innovation Lab London; mobile technology and
digital innovationare thefuture of financial services because it's what
clients and consumers want and so it’s so important that we continue to
support entrepreneurs and start-ups that can really progress this further.”

Mike Grimaldi, Head of EMEA Technology at Goldman Sachs said: “This is a
really exciting group of innovative technology entrepreneurs that have been
chosen. It is these types of companies, with the right support, that have the
potential to significantly impact the future growth and development of the
financial services industry in Europe."

“This is a fantastic opportunity for technology start-ups and the financial
services industry to work together. Promoting and supporting innovation is
fundamental to the whole financial services ecosystem and the FinTech
Innovation Lab provides an accelerator for everyone to engage and
participate,” said Andrew Sargison, Managing Director, Global Head of
Investment Banking & Global Capital Markets Technology and Institutional
Research Technology at Morgan Stanley.

Paul Stoddart, Managing Director of Strategy & Business Development at
VocaLink comments: “We are proud to be supporting the 2013 FinTech Innovation
Lab London this year. It will be really exciting to see which of these
fantastic technologies are able to gain the interest of investors and go on to
become an integral part in the evolution of the financial services sector.”

About Accenture

Accenture is a global management consulting, technology services and
outsourcing company, with approximately 259,000 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 www.accenture.com.

Contact:

Accenture
Molly McDonagh
+ 44 2078444305
+ 44 7825023622 (mobile)
molly.mcdonagh@accenture.com
or
Accenture
Francois Luu, + 33 6 60 53 84 28
francois.luu@accenture.com
or
Accenture
Sean Conway, + 917-592-5744
sean.k.conway@accenture.com
 
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