inTech Innovation Lab’s class of 2012 includes companies creating the next wave of fraud protection, stock gamification, and big-data analytics. Oh, and there’s a digital Sherlock Holmes.
FinTech Innovation Lab is a bootcamp of sorts that seeks to foster promising financial technology startups in New York City, and this year’s crop of six winners are promising a gamut that runs from CIA-inspired security and role-playing-game-like training programs.
The lab was started last year as a way to compete with financial technology growth happening in Silicon Valley and bring a new breed of innovation to the nation’s financial nexis. The new class of six companies was on show at Credit Suisse this week and they’re an impressive crowd: It’s clear these start-ups are aiming to create a future that’s all about gamifying typically dry financial data and making big data programs have Sherlock-like deduction powers. Big New York banks and venture firms are eager to put them into action.
“You have obviously tremendous domain expertise in New York in financial services,” said Maria Gotsch, president and CEO of the New York City Investment Fund, which, along with Accenture, co-organizes the program and its demo day event that occurred Wednesday. “The sector that is going through some restructuring right now. Any time there is restructuring there is time for new ideas.”