IA launches search for third cohort of Fintechs as Velocity marks its 1st anniversary
The Investment Association (IA) has today opened applications as it seeks its third cohort of cutting-edge FinTech innovators for Velocity, the IA’s specialist FinTech accelerator and innovation hub for the investment management industry.
A year since its official launch, the IA has seen more than 120 FinTechs join its ranks, with ten of these taking part in its accelerator programme. These firms highlight the global outlook of the UK’s FinTechs, with IA FinTech members operating in over 30 jurisdictions globally including: Europe, the United States, India, Singapore and Hong Kong
As it enters its second year, the IA is expanding its engagement with FinTechs with the creation of Velocity Birmingham, a new state-of-the-art FinTech hub, which is set to open in November. The IA has also welcomed five new member firms onto its cross-industry Velocity Advisory Panel, which will take part in the selection process for the third cohort, these include: Citi, Columbia Threadneedle Investments, GAM, Insight Investment Management and Wesleyan – the host of Velocity Birmingham.
Chris Cummings, Chief Executive of the Investment Association, said:
“On its first anniversary of its launch, Velocity is moving from strength to strength. Ten outstanding FinTechs have already taken part in the accelerator programme and we look forward to working with the next generation of innovators. That’s why today we’ve launched the hunt for the next cohort of cutting-edge FinTechs, who will drive innovation and ensure the UK investment management industry remains world-leading.”
As the doors open to establish the third Velocity cohort, FinTech firms with market-viable technology are being invited to apply to participate through the Velocity website by midnight on December 2nd, as the investment 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 mentoring from the 28-strong Velocity Advisory Panel. The third cohort will be in place to start on the Velocity programme by the end of January 2020 and will be announced at the IA’s EmTech event.
Notes to Editors:
To find out more and to apply for IA FinTech membership & the Velocity accelerator programme visit here.
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, Communications Manager: [email protected]
T: +44 (0)20 7269 4620
David Parton, Communications Executive: [email protected]
T: +44 (0)20 7269 4625
IA press office: [email protected]
T: 020 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 the asset management industry supports 115,000 jobs 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 37% of all assets managed in Europe.