New participants focused on solutions driven by artificial intelligence and blockchain, digital engagement
SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE:WFC) announced today that OpenRisk
Technologies Inc. and Vouchr have joined the Wells Fargo Startup
Accelerator, bringing the total number of companies in the portfolio to
21.
“Helping to advance innovative fintech startups plays an important role
in our efforts to deliver the financial experiences of tomorrow that
customers demand,” said Lisa Frazier, head of the Innovation Group at
Wells Fargo. “We welcome OpenRisk and Vouchr to the Wells Fargo Startup
Accelerator program and applaud the passion, agility and focus they
bring to create innovative solutions and unique customer experiences.
Innovation is critical within financial services, and we’re excited to
invest in and collaborate with these companies, and all our accelerator
companies, to reimagine financial services.”
The Wells Fargo Startup Accelerator program began in 2014 to advance
emerging technologies in pursuit of breakthroughs for financial
services. Startups are eligible to receive up to $1 million in funding,
along with guidance from Wells Fargo business and technology leaders to
help refine the launch of their ideas. The virtual, six-month,
non-exclusive program has received nearly 2,400 applications from
innovative companies in 91 countries since the program’s inception.
Applications can be submitted throughout the year at www.wellsfargo.com/accelerator.
Latest Wells Fargo Startup Accelerator companies:
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OpenRisk
Technologies Inc.
(Franklin Park, N.J.) has built a
derivatives collateral and liquidity management platform that
leverages semantic web, artificial intelligence and blockchain
technologies to analyze data, facilitate post-trade operations and
manage risks.
“OpenRisk is excited to be part of the Wells
Fargo Startup Accelerator and to work with business and tech leaders
through the program to validate key components of our platform,” said
Narasimha Kodihalli, founder and CEO of OpenRisk Technologies Inc. “We
see great potential to grow our solution and build on our foundation
of smart people, smart approach and smart technology.”
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Vouchr
(Toronto, Ontario) has created an engagement platform for digital
money that transforms financial institutions’ existing transactions
into a delightful, personalized and gamified experience that can
create deeper customer loyalty.
“Differentiated and unique
mobile consumer experiences that elevate basic money transfer and
bring people closer together are key to attracting new and keeping
current clientele," said Suresh Bhat, chief operating officer at
Vouchr. “Joining the Wells Fargo Startup Accelerator is an opportunity
to help us scale our technology globally.”
To further support promising startups and encourage more women in the
field of technology, Wells Fargo is the presenting sponsor of the Quesnay
Female Founders in Fintech competition. The winner will be announced
in March. In addition, the Wells Fargo Startup Accelerator sponsors MassChallenge
FinTech, which pairs startups with industry leaders to work toward
solving major challenges and shape the future of financial services.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo’s
vision is to satisfy our customers’ financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investment and mortgage products and
services, as well as consumer and commercial finance, through 7,800
locations, more than 13,000 ATMs, the internet (wellsfargo.com) and
mobile banking, and has offices in 37 countries and territories to
support customers who conduct business in the global economy. With
approximately 259,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was ranked No. 26
on Fortune’s 2018 rankings of America’s largest corporations. News,
insights and perspectives from Wells Fargo are also available at Wells
Fargo Stories.
