London, GB 11 °C

Thursday, March 28, 2024

News > Fintech

New London fintech space opens

Alex Lynn | 14:01 Wednesday 17th May 2017

Barclays has opened Rise London which it claims is Europe's largest co-working space dedicated to fintech.

The site at 41 Luke Street, Shoreditch, will bring together fintech start-ups from around the world along with Barclays' corporate clients and other experts to help create the future of financial services.

Barclays will be co-creating new products, services and platforms along with its start-up partners, with Rise London housing more than 40 fintech companies.

“We believe that technology must be a core competency of a global financial institution, and we intend to be a leader in the industry,” said Jes Staley, group chief executive of Barclays.

“Last week, we announced the creation of 750 new jobs in our UK technology centres.”

Barclays has teamed up with leading corporates, investors and industry experts from across seven sites in New York, Manchester, Mumbai, Cape Town, Vilnius, London and Tel Aviv.

In each location, it operates multiple programmes for open innovation, including the Barclays Accelerator, as it aims to facilitate rapid engagement between the bank and the Rise fintech community.

“Fintech start-ups are at the front of the technology wave that is changing our industry,” Jes added.

“Through Rise, we glean important insights; we can actively experiment with emerging technologies, and we can spot early trends and new markets as they form.

“This allows our employees, customers and clients to do things faster, better and at lower cost.”

Rise London will also play host to more than 200 hours of learning, workshops, hackathons and networking on a monthly basis.

Michael Harte, group head of innovation at Barclays, added that Rise was an open innovation platform to engage fintech start-ups with customers and clients to invent new business solutions.

“Our vibrant community taps into the agile and disruptive nature of these ventures.

“By matching fintechs with the business challenges that we face as a diversified financial services firm, we drive customer and shareholder value.

“For us, the more vibrant we make the fintech community, the greater the value contribution to customers and shareholders as well as to the financial services sector as a whole.”

leave a comment

Your email address will not be published.