British bank Barclays has teamed up with corporate venture builder Rainmaking to support the development of FinTech.
With the aid of Rainmaking, Barclays will launch a new suite of initiatives aimed at helping FinTech founders around the world to grow their companies.
Its first program is Rise Start-Up Academy, a virtual digital skills building accelerator aimed at idea and early-stage FinTech founders. Applications are live and is open to people building solutions tackling wealth equality, climate, the future of money and more.
In the future, Rise Growth Academy will be launched to offer capability development around areas including investment readiness, recruitment, accelerating sales and leadership development.
Another one of its projects will be FinTech Venture Studio, which will launch later this year. This will focus on co-developing new FinTech ventures by working with internal talent, startups and other leading companies.
Barclays hopes the partnership with Rainmaking will help it transform banking for its customers and clients. Its internal innovation team will work closely with startups.
Barclays group chief innovation officer Mariquit Corcoran said, “Innovation is critical in driving growth in today’s challenging business environment and in solving some of the most pressing problems society faces today.
“We have been humbled and changed by the incredible FinTechs we have worked with, and we understand first-hand the power of collaboration to evolve and unlock opportunities for our customers, clients, colleagues and the communities in which we operate. We are very excited to work with Rainmaking to further push the boundaries of corporate innovation and ensure collaboration is at the heart of our FinTech strategy.”
Barclays has been an active player in the FinTech market. It recently invested $6.6m into fashion financing platform Responsible. The company integrates at the point-of-purchase to inform shoppers of the residual value of the items they are purchasing.
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