Learn more about the advantages of participating in the FinTech Innovation Lab New York
Applications are now open for the FinTech Innovation Lab New York, a 12-week program co-founded by Accenture and the Partnership Fund for New York City that connects early- and growth-stage fintech and insurtech companies with top financial services and venture capital firms to accelerate product and business development through in-depth collaboration.
The FinTech Innovation Lab is designed for entrepreneurs developing disruptive enterprise technologies for the financial services industry, including the banking, payments, insurance, and capital markets sectors. The Lab has helped establish New York City as a fintech hub for enterprise technology innovation and its graduates have raised over $2.7 billion and have had 30 acquisitions in the program’s 14 years.
Applications for the 2025 class are open and available here. Companies are encouraged to apply early, with limited space available before applications close on November 27th. The Lab will host an in-person information session on November 4th, and a virtual information session on November 20th for those interested in applying.
Based on feedback from senior executives at participating financial institutions, this year’s Lab is searching for promising early- and growth-stage companies developing solutions in 10 major areas:
- Enterprise process automation enabled by artificial intelligence and machine learning;
- Employee productivity optimization through copilots and human augmentation;
- Data aggregation & processing that can power AI use cases;
- IT & DevOps powered by generative AI that can reduce time to market for new products;
- Platform modernization & architecture to optimize disparate data silos;
- Risk management, crime surveillance, and audit & compliance to combat an increase in security threats;
- Cyber protection to support the increased demand for secure data aggregation, mapping, and processing;
- Human resources to improve talent management and retention to shape the future of work;
- Marketing technologies enabled by generative AI to increase market engagement;
- Customer management tools that enable hyper-personalization & customer service automation.
Maria Gotsch, co-founder of the FinTech Innovation Lab and president and CEO of the Partnership Fund for New York City, said, “Since we launched the FinTech Innovation Lab in 2010, New York City has solidified its position as a hub for innovative financial technology. We take pride in our role in building the fintech ecosystem by connecting startups with leading financial institutions, mentors, and entrepreneurs. As fintech and insurtech rapidly evolve, now with the influence of AI and machine learning, we’re eager to keep collaborating with the global tech sector to help shape the future of finance in New York.”
Steve Murphy, Accenture’s Financial Services Industry Solutions lead and executive sponsor of the FinTech Innovation Lab New York, said, “The fintech community is thriving with talented and ambitious founders working to address the challenges of today’s financial services industry with creative solutions across the spectrum of emerging technologies. In a competitive funding environment, the Lab remains a premier platform for fintechs and insurtechs to gain the insights, resources, and partnerships necessary to scale their businesses.”
The final class of companies will be selected through a competitive process with senior technology executives from more than 40 participating financial institutions determining the 2025 class. The Lab will then partner the selected fintechs with senior-level executives from the participating institutions, who will help them develop and enhance their technologies and business strategies through a series of one-on-one meetings, panel discussions, user-group sessions and networking opportunities, including with leading technology and corporate luminaries. The program will begin in April and culminate in June 2025 with a Demo Day, where the class will present to an audience of venture capitalists and financial industry executives.
Notable participants from the 2024 class, which was the most AI-focused group in the Lab’s history, include Reality Defender, a cybersecurity company that detects AI-generated audio, images, video and text being used by bad actors to defraud banking, insurance, and government organizations and Hyperplane, a data intelligence platform that enables financial institutions to develop personalized experiences and predictive models through proprietary large language models.
Since its founding in 2010, the FinTech Innovation Lab New York has assisted entrepreneurs from 119 technology companies. These program graduates have created more than 3,000 jobs and raised more than $2.7 billion in venture financing, and 30 of them have been acquired.
The full list of participating financial institutions and venture capital partners can be found here.
Contact:
FIL NYC