The Innovation Marketplace reduces complexity for financial institutions ... These fintechs are shovel ready and pre-certified for market, not the usual innovation theatre programs that fail to deliver any of their promised value.
SAN RAMON, Calif. (PRWEB) December 19, 2017
iValley Innovation Center, a corporate fintech accelerator, and banking software and services company CeleritiFinTech (CFT) jointly announced today the successful completion of their first fintech accelerator program with the certification of multiple startup organizations. These firms are now eligible to join CFT’s Innovation Marketplace launching in January 2018.
“The Innovation Marketplace reduces complexity for financial institutions looking to find, validate and incorporate innovative fintech into their offerings,” said Paddy Ramanathan, Founder and Managing Director of iValley which ran the six-month program. “These fintechs are shovel ready and pre-certified for market, not the usual innovation theatre programs that fail to deliver any of their promised value. These startups have gone through an intense curriculum including product development, go-to-market positioning, and a mentorship program with exposure to venture capitalists, serial entrepreneurs, innovators, and potential buyers.”
“We are investing heavily in helping banks, credit unions and other financial services companies modernize their core business environments,” said Oded Shoshany, CEO of CeleritiFinTech. “We’re thrilled to be launching the Innovation Marketplace with our startup partners, and look forward to continued growth in 2018 as we add solutions and run another hackathon.”
The startups in the first cohort were initially selected for the accelerator through a hackathon earlier this year and represent a range of specialties, including small business banking, regulatory technology and bot development toolkits. During the program, they developed against 26 CFT Core Banking and Payment APIs and had to pass 16 certification steps to graduate. They include: Checkbook.io, Amberoon, Talk Accounting, Market Simplified, and SnapCheck.io.
“We got a strong boost from participating in the hackathon. By integrating and live testing with CeleritiFinTech’s Hogan system, Checkbook.io is now ready to offer real-time money transfers to businesses and individuals. Our solution is available through a bank's mobile app or web portal so the recipient does not have to sign up for any service or download any app to receive the funds,” said Checkbook.io CEO PJ Gupta.
KC Truby, president of TALK Accounting, added: “We’re excited to have joined the program because we see opportunities to dramatically reduce bookkeeping costs for small and medium businesses by partnering with CeleritiFinTech and iValley to use the Hogan Core Banking API innovation suite. We cannot wait to start implementing these processes and procedures with the help of financial institutions to deliver the next generation of accounting record-keeping simplicity.”
iValley and CeleritiFinTech are now accepting applications for the next cohort that will launch in Q1 2018. Those interested in applying can email info(at)ivalley(dot)co for more information.
iValley Innovation Center (http://www.ivalley.co) is a corporate fintech accelerator in the East San Francisco Bay Area. iValley provides agility and direction to financial institutions by allowing them to tap into and co-create with an ecosystem of startups to maintain a continuous focus on innovation. iValley is host of FintechTalk, the Intersection of Silicon Valley and Financial Services conference.
CeleritiFinTech, an HCL DXC Technology Company, delivers banking software and services to global banking clients. http://www.celeritift.com/.