Barclays has signed eight deals with eight different firms, to include two companies working with blockchain technology, in a move to enhance its fintech accelerator program in New York. These deals are expected to act as a milestone towards revolutionizing the financial technology industry in New York.
This program has been designed to assist fintech startups to create, develop and provide new innovations in the financial technology sector.
Chainalysis will be tasked with helping Barclays to carry out transactions with firms that are using bitcoin and blockchain. On the other hand, Wave, which uses blockchain technology, will facilitate the paperless documentation of freight bills.
This program has been designed to assist fintech startups to create, develop and provide new innovations in the financial technology sector. The startups will get support from Techstars, a mentoring organization, during the incubation period.
Jenny Fielding, Managing Director of Techstars, remarked on how amazing it is to be a part of a team that is spearheading the growth of the fintech industry in New York City. She also added that Barclays is a strong partner to work with, especially with the main focus on helping startups to grow, and that her team at Techstars is committed to launching more fintech programs across the world.
The eleven firms has considerably developed their ideas and played a crucial role in transforming the future of financial services
Other companies that are involved in the New York program include: LiveOak Technologies, which concentrates on the technology of video-conferencing; Wayerz, which aims at improving the invoice billing process; and RangeForce, which will be responsible for operating cyber-security contests for technology teams at Barclays.
While commenting on the participation of all firms involved in the program, Derek White, Barclays’ chief design & innovation officer, noted that each of the eleven firms has considerably developed their ideas and played a crucial role in transforming the future of financial services.