Fintech Labs Foster Bank Mentoring

07.16.2020 - New York

Entrepreneurs—even the more seasoned ones—say they most value the coaching of finance executives.

Fintech startups participating in the FinTech Innovation Lab (FIL) run by Accenture and the Partnership Fund For New York City are well-positioned to help financial institutions keep up with the relentless pace of innovation that characterizes the intersection of technology, banking, and communication today. FIL is a civic program that pairs 10 startups with financial institutions that in turn mentor the young companies to help develop their business strategy and take novel ideas to their full potential. Last month, Global Finance gave readers an inside look at the process by which FIL and its participating financial insitutions winnow some 300 applicants down to a cohort of 10 lucky startups.

Many entrepreneurs that have been through a lab program say that it’s the mentoring that delivers value more than anything else. This installment in our series looks at the bond-building and coaching that these labs foster.

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