The Investment Association (IA) has named the five FinTech companies to make the second cohort of its Velocity accelerator.
Velocity is the IA’s innovation hub and FinTech accelerator for the buy-side and asset management industry. To be selected for the cohort, the firm explored their solutions and whether they increase business efficiency and enhance customer experience for asset managers.
Regulatory intelligence and change management solution CUBE is one of the five companies to make the second accelerator group. Its platform automates the end-to-end compliance lifecycle and can easily scale with the business when it enters new jurisdictions or adds new products and solutions.
CUBE acts as a single source for global regulatory intelligence, monitoring, capturing and analysing this data all in real-time. With AI-powered regulation mapping, it can then map against policy, procedures, controls and records to pinpoint compliance risk in all jurisdictions. Whenever a gap is identified, CUBE will alert teams in real-time and trigger downstream compliance.
Qwill Messenger is another member of the cohort two, and will look to develop its safe and compliant staff chat app. The platform enables employees to verify who they are speaking with and ensure all information shared meets communication requirements.
Private market advisor HUBX, another member of the programme, will look to develop its solution which helps financial professionals track, distribute and execute their private deals.
The cohort is also joined of AxeTrading, a fixed income EMS which offers toolkits for trading connectivity, bonds pricing engine, and multi-layer data aggregation. The solution was specifically designed for the fixed income markets.
Finally, BlueFireAI was also admitted to Velocity. The company opens Chinese capital markets to foreign institutional investors and supplying them with insights on local companies and their assets.
The cohort was revealed at an event hosted by IA, which was attended by the UK’s Shadow Minister for Science and Innovation. During the course of the day, the inaugural Velocity cohort presented their solutions to attendees.
Chi Onwurah MP, UK’s Shadow Minister for Science and Innovation said, “FinTech has the potential to transform financial services, making them more available, accessible and effective. The UK is a world leader in FinTech and I want to see that leadership maintained to drive our future prosperity.
“Accelerators, such as Velocity, have an important role to play in nurturing new talent and helping FinTechs scale up. I would therefore like to congratulate the second cohort of FinTech firms entering the IA’s Velocity programme and look forward to seeing these firms’ products and ideas benefit savers and investors.â€
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