Barclays gives boost to New York fintech 19 October 2015New York Reporter: Stephanie Palmer
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Barclays has signed contracts with eight companies off the back of its financial technology accelerator programme in New York, including two firms working with blockchain technology.
Chainalysis will help Barclays to conduct transactions with companies that actively use blockchain and bitcoin, while Wave uses blockchain technology to produce paperless processes for bills of lading – a document required to give title to a shipment of merchandise.
The programme is designed to help financial technology start-ups to deliver new innovations, with the support of mentoring organisation Techstars.
Jenny Fielding, managing director of Techstars, said: “It’s amazing to be part of the burgeoning fintech ecosystem in New York City and play an active part in the transformation of the industry.”
She added: “Working in unison with Barclays has proven to be a strong partnership for these high growth startups and we're excited to roll out additional fintech programs worldwide.”
The New York programme also produces LiveOak Technologies, which focuses on video-conferencing technology, Wayerz, which strives to improve the process of invoice billing, and RangeForce, which will run cyber-security competitions for Barclays’s technology teams
Derek White, chief design and innovation officer at Barclays, said: “Each of the 11 companies that participated in the programme has significantly progressed their concept, and has contributed to shaping the future of financial services.”
“Barclays is proud to be at the forefront of the fintech revolution.”
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