The Investment Association (IA) has today opened applications as it seeks its second cohort of cutting-edge FinTech innovators for Velocity, the IA’s specialist FinTech accelerator and innovation hub for the asset management industry.
Since the launch of Velocity and the creation of the IA’s FinTech membership category, the IA has seen more than 70 FinTech firms join its ranks in the past six months, with five of these forming the first Velocity cohort in October last year.
As the IA’s fastest growing membership category, FinTech membership accommodates the specific needs of FinTechs operating within the wider buy-side market. It has attracted firms representing a wide variety of technologies covering: AI, big data, cloud-based infrastructure, DLT and Blockchain, mobile and wealth technologies, as well as robotics and automation. These firms also highlight the global outlook of the UK’s FinTech firms, with IA FinTech members operating in over 30 jurisdictions globally including Europe, the United States, India, Singapore and Hong Kong.
Chris Cummings, Chief Executive of the Investment Association, said:
“The IA has firmly established itself as the natural meeting point between the most cutting-edge FinTech companies and the asset management industry. By taking the lead on attracting innovative FinTech firms, we are ensuring that our industry remains globally competitive to the benefit of savers and investors. More than 30 outstanding FinTech companies applied to join the first cohort and we look forward to receiving a similar high calibre of applicants for the second cohort.”
As the doors open to establish the second Velocity cohort, FinTech firms with market-viable technology are being invited to apply to participate through the Velocity website by 12.00 on Monday 1st March, as the asset management industry seeks innovative new technological solutions to increase business efficiency and enhance customer experience.
During the six month programme, the FinTech firms will benefit from unparalleled access to the IA and industry expertise, as well as gaining valuable exposure to industry networks and potential clients. Participants will also benefit from access to a bespoke co-working space and mentoring from the 24-strong Advisory Panel. The second cohort will be in place to start on the Velocity programme by May 2019.
Notes to Editors:
In October 2018, the IA announced the first cohort of Fintech firms (9Fin, Essentia Analytics, Hivemind, REsonanceX and Util) to take part in the IA’s Velocity accelerator programme. Click here to view the press release:
For enquiries on IA FinTech membership and Velocity applications:
Gillian Painter, Head of Membership: [email protected]
T: +44 (0)20 3859 0748
For media enquiries:
Helen Ayres, Media Relations Manager: [email protected]
T +44 (0)20 7269 4696
About the Investment Association (IA):
- The IA champions UK asset management, supporting British savers, investors and businesses. Our 250 members manage £7.7 trillion of assets and employ around 100,000 people across the UK
- Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
- Our purpose is to ensure investment managers are in the best possible position to:
- Build people’s resilience to financial adversity
- Help people achieve their financial aspirations
- Enable people to maintain a decent standard of living as they grow older
- Contribute to economic growth through the efficient allocation of capital.
- The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
- The UK is the second largest investment management centre in the world, after the US and manages 35% of all assets managed in Europe.