By Smantha Hurst
InvestCloud Inc., a global fintech firm, announced on Wednesday that it is set to launch a financial technology incubator and accelerator at its European headquarters in Soho, London. The firm reported that its InvestCloud Innovation Center London will offer both new startups and established financial firms with the ability to quickly deliver digital wealth management solutions supported by its platform.
InvestCloud reported that the London InvestCloud Innovation Center will follow the blueprint of the firm’s first technology accelerator at its Los Angeles headquarters. Its Los Angeles space enables teams from banks, wealth managers, and early-stage fintech startups to undertake ‘residences’ to accelerate the development of new digital solutions. Members of the Innovation Center have access to their own InvestCloud Sandbox, which will include access to the more than 200 InvestCloud financial apps, over 2,000 API’s, integrated market data, news, financial and accounting data, a document repository and InvestCloud’s unique method of development. John Wise, co-founder and CEO of InvestCloud, stated:
“InvestCloud is a global business, and we have a commitment to creatively drive innovation worldwide. This commitment is the reason behind our rapid success not just in the US, but also in London, across Europe and increasingly in broader EMEA and APAC. The London Innovation Center is a perfect example of this. By sharing our technology and expertise with financial institutions and startups in the UK, and London specifically, we can help them deliver the digital solutions their clients want. It’s no secret that the financial services industry is behind the curve when it comes to digital. Many projects cost millions only to be scrapped, and the failure rates for startups are incredibly high. InvestCloud’s Innovation Centers ensure success for these projects – allowing teams to innovate and ideate quickly, drawing on the experience of the Innovation Center team and the wealth of capability within the InvestCloud app library.”
InvestCloud also revealed that Deputy Mayor of London for Business, Rajesh Agrawal, has praised the move by InvestCloud to establish its latest financial technology incubator in London. Agrawal noted:
“InvestCloud’s decision to launch a FinTech incubator and accelerator in the heart of our great city is further evidence that London is open for business and innovation. As a FinTech entrepreneur, I know from experience London is the ideal location to grow a start-up, with an unrivaled talent pool and a time zone which overlaps with other financial centers, among many other advantages. That is the message I took on my trade mission to the West Coast of the US last week and I’m delighted that companies like InvestCloud continue to invest in London and recognize our city as a global business powerhouse.”
Will Bailey, Head of Europe and Innovation, added:
“Our dedication to innovation is the reason behind our rapid expansion in Europe, picking up landmark clients from wealth managers such as MASECO, to robo-advisors including Nutmeg. By sharing our expertise, the London InvestCloud Innovation Center means financial institutions can fulfill the needs of their clients. It gives startups the best chance to rapidly take creative ideas and launch them to market. It ensures success.”
InvestCloud is currently accepting applications for the Innovation Center’s Summer 2017 opening.