A new and interesting financial technology venture is launching with a unique twist.
Bank Innovation and Fiserv are launching a new accelerator called Bank Innovation INV. The twist is that the accelerator will have no home city, a unique play on the advantages of financial technology.
So far, INV appears to be the first of its kind, and will begin its operations in New York, Silicon Valley, Israel and Europe, with plans to plant itself anywhere else when it needs to.
Bank Innovation has long been a leading member of the fintech media industry, while Fiserv has launched financial technology services globally.
The Bank Innovation INV accelerator has received backing from US Bank, America’s 5th largest. It has also received backing from Cross River Bank, which will provide guidance and resources to the accelerator in conjunction with US Bank. Other tech ventures will also join the cause, including QuantConnect, ChartIQ and Estimize.
The trend now in new accelerators such as Bank Innovation INV is pushing past just technology and moving towards proof of concept and real world applications.
Fiserv hopes to utilize this accelerator to push further into the fintech sector and to grow new relationships across the globe. “As part of our role in the Bank Innovation INV accelerator, Fiserv has an opportunity to not only further innovation, but to serve as a connection point between financial services startups and our thousands of bank and credit union clients,” said Matt Wilcox, senior vice president of Marketing Strategy and Innovation at Fiserv.
