FinTech Innovation Lab London Makes Their Picks

Applications for the fourth annual FinTech Innovation Lab London are now closed, with only 15 applicants chosen.

The London-based accelerator received a record number applications for its 2016 mentorship program this year. The London FinTech scene has been heating up and many are calling it the new fintech capital of the world.

As incubators and accelerators crop up across the London metropolitan area, FinTech Innovation Labs has been part of leading the charge.

The program will last 12-weeks and begins in January of next year. Accelerators like FinTech Innovation Labs provide startups with access to senior-level banking executives, regulators in the industry, and unparalleled access to emerging technologies in the sector.

The accelerator also gives participants an opportunity to collaborate with other startups and well established companies to fine-tune their products. Out of the 15 accepted applicant companies, six will be selected to present to investors and venture capitalist in March of next year.

FinTech Innovation Labs is one of the older accelerators in Europe. Backers for the project include JPMorgan Chase, Lloyds Banking Group, Morgan Stanley, Nationwide, RBS, Goldman Sachs, HSBC, Bank of America, Deutsche Bank, Credit Suisse, and UBS.

Societe Generale just recently joined the ranks of investors lining up to join fintech accelerators such as FinTech Innovation Labs. “We are thrilled to join the group of banks that will help mentor and shape the technologies of the leading startups selected for the FinTech Innovation Lab London this year,” said Carlos Goncalves, Chief Information Officer of Societe Generale.