TEL AVIV; June 20, 2016 – Accenture (NYSE: ACN) has joined a new hub of financial technology (fintech) start-ups based in Tel Aviv, Israel dubbed “The Floor.” As a supporter, Accenture will evaluate potential innovations for its clients and potentially its own strategic investments, while mentoring start-ups and strengthening its ties to the growing Israeli technology community.
The Floor was founded this year with support from institutions, including Banco Santander, HSBC, Intesa Sanpaolo and RBS, and from Intel Corporation. It offers fintech entrepreneurs and start-ups a platform to collaborate with financial services institutions, technology companies and venture capitalists. In recent years, fintech investment in Israel has grown dramatically, with the number of fintech ventures growing from 90 in 2002 to approximately 430 today.
“Over the past half-decade, fintech has become a major force of innovation in the financial services industry,” said Sushil Saluja, senior managing director of Financial Services in Europe, Latin America and Africa at Accenture. “The origins of these innovations are bound less by geography than by the growing wealth of ideas to reinvent financial services in the digital age. 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.”
“We are extremely excited to announce our strategic collaboration with Accenture,” said Moises Cohen, co-founder and director at The Floor. “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.”
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 program for leading financial technology ventures. Accenture launched additional labs in London in 2012, and in Hong Kong and Dublin in 2013. The program is supported by 33 of the world’s leading financial institutions. Nearly 100 ventures have participated in the Labs, raising more than $335 million in financing after the program. Between 2010 and 2015 global investment in fintech ventures has grown from $1.8 billion to $22.3 billion, according to Accenture’s latest report on the global fintech landscape.
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 373,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us atwww.accenture.com.
About The Floor
Based at the Tel Aviv Stock Exchange (TASE), The Floor is the first Fintech hub of its kind in Israel. The Floor provides a physical home for local Fintech entrepreneurs and serves as the focal point of access to Israeli Fintech for leading international financial players, tech giants and VC’s. In financial institutions the Trading Floor is the central place for exchanging value. At The Floor, we trade Fintech ideas and offer a bespoke platform for our partners and members to engage, collaborate and grow. We cooperate with all ecosystem players, working together to solve today’s challenges with tomorrow’s solutions.
Sean K. Conway
+ 1 917 452 7116