Six entrepreneurs, selected from a field of more than 90 startups, showed off their latest cutting edge technology at the annual FinTech Innovation Lab. Created by the New York City Investment Fund and Accenture, the Lab was instituted to foster technological innovation in the financial services sector.
Ten financial institutions including Goldman Sachs, JPMorgan Chase and Citigroup, provided mentors, feedback and market access. Venture capital firms Contour Venture Partners, Polaris Venture Partners, Rho Ventures, RRE Ventures, Village Ventures and Warburg Pincus provided coaching and business advice and $25,000 to each startup.
The six startups are:
- Aqumin—uses interactive 3D technology to visualize and interpret vast amounts of public and proprietary market data.
- CB Insights—evaluates the performance of private businesses by finding signals of strength or weakness in publicly available data.
- Hanweck Associates—provides real-time analytics and risk products for hedge funds, banks and other financial institutions.
- Lenddo.com—uses social networks to analyze credit worthiness, particularly of middle class people in emerging markets seeking loans.
- Syphr—provides personalized credit management and optimization applications to allow financial institutions to identify and attract specific customers.
- Zipmark—employes a mobile barcode that accepts payments from any bank, providing customers an alternative way to pay bills.