The Investment Association has signed up five asset management based firms to its new financial technology “accelerator programme”, Velocity.
The accelerator launched yesterday and will see participating firms undertake a six month programme to meet with potential clients and investors through the IA.
Artificial intelligence powered financial data platform 9Fin, data software provider Hivemind, and FCA-regulated interactive trading platform ResonanceX are joining the programme.
The other fintechs in the inaugural cohort are behavioural analytics-based decision-making tool Essentia Analytics, and big data supported offering Util.
Speaking at the Velocity launch last night, Treasury economic secretary John Glen said: “The UK is a world leader in asset management, and by harnessing the power of fintech, we can ensure that it continues to go from strength to strength. I’m sure this first group of innovative firms to benefit from Velocity will help to take the industry even further in the future.”
The IA says more than 30 firms applied for the accelerator programme, with applications for a second cohort opening on 1 January.