View this article online: https://www.insurancejournal.com/news/east/2022/10/28/692276.htm

New York Innovation Lab Is Now Accepting Applications

The FinTech Innovation Lab New York, a 12-week program to helps early- and growth-stage financial technology companies through collaboration with financial services and venture capital firms, is now accepting applications.

The lab, co-founded by Accenture and the Partnership Fund for New York City, is designed for entrepreneurs developing technologies for banking, capital markets and insurance. This year the lab is seeking technologies in eight areas:

• Data: Alternative and synthetic data, predictive analytics, artificial intelligence (AI) based insights, unstructured data, new data sources, fraud management in insurance, and data privacy;
• Digital Client Engagement: Client acquisition and retention; product customization; and experience personalization;
• Future of Work: Talent sourcing, onboarding, engagement and retention; virtual and hybrid experiences;
• Inclusion & Diversity: Financial wellness and inclusion (un- and under-banked), and diversity;
• Metaverse/Web 3.0: Distributed ledger technology, blockchain, digital assets, cryptocurrency solutions, decentralized finance and insurance; smart contracts, customer experience, digital twins, and e-commerce enablement;
• Payments: Global commerce, foreign exchange transactions, and infrastructure modernization;
• Risk and Compliance: Automation, risk assessment, regulatory compliance, digital identity and security solutions, and records management; and
• Sustainability: Environmental, social, and corporate governance (ESG); carbon solutions; risk identification, reporting and mitigation; sustainable investment; and education solutions.

Applications for the 2023 class are due by Dec. 1.

Chief technology officers and senior technology executives from more than 40 participating institutions will select the 2023 class. Applicants must have a working beta version of their technology that is ready to be tested for either the institutional or retail market. The lab will then partner with senior-level executives who will help them refine their technologies and business strategies.

The program will begin in April and culminate in June with a Demo Day, where the class will present to an audience of venture capitalists and financial industry executives.

The Partnership Fund for New York City is the investment arm of the Partnership for New York City, a business organization.