Graduation, celebration and innovation: The future of FinTech

By Megan Harrison | Mar 29, 2019 |

The evening started with popping, locking and some serious sneakers when the fluid moves of breakdancer Junior Bosila Banya, took to the stage at the graduation of the Accenture FinTech Innovation Lab 2019.

 


We heard from the industry’s finest...

There were keynotes from Nancy Fechnay, Venture Capitalist of BedRockX who proved that diversity within FinTechs increased revenue with a statistic that resonated with everyone in the audience.

FinTechs founded by women are 26% more profitable than those founded by men.

We heard from Joel Perlman, OakNorth founder who brought laughter and a slice of humble pie to the stage by proving to the audience that the most successful businesses are built out of need and necessity to make things simpler. Using his own experience as an entrepreneur, Perlman reminisced on the rigid experience he had trying to gain funding for a new venture. In the same year, for the same business, Perlman applied for funding from two separate banks, one UK based and one New York based. The UK bank offered £100,000, ten times less than that of the New York bank. This lack of availability to funding within the UK and Europe encouraged Perlman to successfully launch OakNorth, which has since lent $3 billion to entrepreneurs to date.  

 

The future of FinTech showcased on one stage

These talks mirrored what was to follow as the FinTech Innovation Lab graduates took to the stage. For the past three months, 20 diverse businesses came together to innovate, refine and scale their models with the help of Accenture. These businesses ranged across five streams; Investment Banking, RegTech, InsureTech, Open Banking and Tech4Tech - OpenWrks sat within the Open Banking stream where we worked with Accenture to refine our proposition and accelerate our financial wellbeing product, Tully.

 

OpenWrks and Tully changing the way people deal with money

During the ceremony, Olly took to the stage with a hard-hitting reality check - anyone can find themselves in financial difficulty, a loss of job, a shock cost or even just reckless spending. This resonated throughout the auditorium as even those surviving on a diet of VC money and smashed avocado are not immune from life's curve balls.

See Olly in action, on stage and find out how we’re helping 20million people in the UK with their money.

 


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