Ten fintech companies have been selected to participate in the 2020 FIS Fintech Accelerator program.
Now in its fifth edition, the FIS Fintech Accelerator provides early-stage fintech companies with mentorship, training and access to both capital and financial institutions. Traditionally, the program is hosted in Little Rock at the Venture Center but will be held virtually due to the COVID-19 pandemic.
The selected companies will spend 18 weeks – up from the usual 12 weeks – receiving mentoring from a range of partners, including from FIS, the Venture Center and area banks and financial institutions. Participating companies also will receive a monetary investment as part of the program.
“The FIS Fintech Accelerator is a key part of our overall investment strategy at FIS to develop and bring to market the most innovative, leading-edge technology innovations for our clients,” FIS chief growth officer Asif Ramji said in a statement. “The ten companies selected for the fifth year of FIS’ Accelerator program bring a wealth of promising ideas and technologies. We look forward to working with these firms to bring their ideas to life.”
The 10 companies selected to participate in the 2020 FIS Fintech Accelerator include:
- Cirrus Secure (Evergreen, Colo.)
- Cobbler Technologies (Little Rock)
- Dasceq (Dallas, Texas)
- Mall IQ (San Fransciso, Calif. and Istanbul, Turkey)
- Sequretek (Mumbai, India)
- Stratyfy (New York)
- Silot (Singapore)
- Surfly (Amerstdam, The Netherlands)
- TrustStamp (Atlanta, Ga)
- XpenseOne (Spokane, Wash.)
The 2020 FIS Fintech Accelerator cohort represents a wide range of disciplines within the greater fintech sector. Cirrus Secure focuses on lending automation, while Dasceq is an account receivable and collections company that uses artificial intelligence and machine learning to improve contact and payment options for delinquent accounts. Mall IQ is a location intelligence fintech that has a proprietary indoor and outdoor location technology that is aimed at improving the usage of banking products. Sequretek is a cyber security company that offers “modular, end-to-end-products,” according to a Venture Center news release. Silot provides plug-and-play digital onboarding, KYC and credit scoring solutions for small businesses, while Stratyfy provides risked-based decision-making models to reduce system vulnerabilities. Surfly, an Amsterdam-based company, focuses on co-browsing and video chat technology. TrustStamp is a secure authentication company that transforms biometric and other identifying data into an anonymized token to ensure authentication and protect user privacy. XpenseOne is an “automated expense management solution” that is aimed at small to medium-sized businesses to manage bank credit card transaction.
One Arkansas company has also make the list for the 2020 cohort. Cobbler Technologies is an Little Rock-based application development fintech that has created LeapXL, a no-code application development platform that “can turn spreadsheet data and formulas into apps and real-time reports instantly,” according to a news release. The company has also developed No-Code CONNECT, which accesses messages from multiple APIs.
“The FIS Fintech Accelerator program has a demonstrated history of accelerating highly successful companies and expanding financial access in all corners of the world,” Wayne Miller, Executive Director of The Venture Center, said. “With our partners at FIS and the State of Arkansas, we’re honored to be a part of bringing cutting-edge technologies to the places and people who need them, particularly in this moment of monumental technological advancement.”
A Demo Day that concludes the accelerator will be held on October 14. During the Demo Day, the cohort members will demonstrate their products, services and innovations to fellow entrepreneurs, financial institutions and potential investors.
The fourth FIS Fintech Accelerator kicked off in May 2019 and wrapped up in July 2019. The participating companies included Digital Onboarding, Gremlin Social, Sendmi, ChangeEd, Voleo, Neener Analytics, Genivity, Curu, Highside and Mimble.
Most recently, the Venture Center hosted the second ICBA ThinkTECH Accelerator. While the program was initially held in-person, it was caught in the middle of the COVID-19 pandemic, and the Demo Day was held virtually.