Schroders launches in-residence program for FinTechs

Schroders has launched a global in-residence program for tech startups to support the financial services.

Applications are open for the Colbalt program, which looks to support FinTechs through collaboration and development. Companies selected will benefit from direct access to relevant divisions of Schroders, resources and potential investments.

Startups will be judged by their alignment with Schroders business priorities and culture, as well as if they offer a ‘tangible benefits within 12 months.’  Arrangements will be agreed between the companies and will see them based within Schroders, with length and terms to be decided.

Schroders Chief Digital Officer Graham Kellen said, “By collaborating with ground-breaking tech start-ups we can tackle legacy technology issues with problem-solving innovation for the benefit of our clients and our own productivity.

“In turn, the start-ups we choose to work with will also profit from our industry expertise and resources to fast-track their development. The Cobalt programme is our answer to how best to collaborate with tech start-ups.”

In a recent interview with RegTech Analyst, Schroders Kellen said that the company is looking for RegTech opportunities that present the ‘greatest area for productivity enhancement’. Schroders is looking to the RegTech space to help free up time and money, with various time-consuming tasks related to compliance.

Earlier in the year, cryptocurrency wealth management company Bankorus partnered with JD.com’s blockchain and AI accelerator. The crypto company has joined the founding cohort to help support startups with partnerships across its retail network.

Copyright © 2018 FinTech Global

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