Accenture Joins Israeli Fintech Hub the Floor in Strategic Partnership

Accenture announced today that it has joined a new hub of Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term start-ups based in Tel Aviv known as 'The Floor'.

As a member of the hub, Accenture will evaluate potential innovations for its clients as well as its own strategic investments. The company will also mentor start-ups, all of which will serve to strengthen its ties with Israel’s expanding technology community.

Israeli fintech ventures have grown from 90 in 2002 to around 430 today.

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The Floor, which was founded in 2016, has enlisted the support of institutions such as Banco Santander, HSBC, Intesa Sanpaolo, RBS and Intel Corporation and offers fintech entrepreneurs and start-ups a platform to collaborate with financial services institutions, technology companies and venture capitalists.

Sushil Saluja, senior managing director of Financial Services in Europe, Latin America and Africa at Accenture, commented: “Over the past half-decade, fintech has become a major force of innovation in the financial services industry. Israel has long been a leader in technology and is a growing contributor to the global fintech community. We are pleased to be part of this program.”

Fintech investment in Israel has grown considerably in recent years with the number of fintech ventures growing from 90 in 2002 to around 430 today.

Accenture has been promoting fintech venture innovation since 2010, when it co-founded the FinTech Innovation Lab with the Partnership Fund for New York City. The Lab is a mentorship and Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he Read this Term program for leading financial technology ventures. Accenture launched additional labs in London in 2012, and in Hong Kong and Dublin in 2013.

Moises Cohen, co-founder and director at The Floor, welcomed the strategic collaboration with Accenture and said: “An indisputable global leader in the financial services and Fintech industries, Accenture is a perfect match for The Floor and its partners enabling us to address the industry’s challenges and work together with Fintech entrepreneurs to find innovative solutions.”