Eleven entrepreneurs and small businesses backed by Barclays pitched new financial services technologies to an audience of more than 300 angel investors, venture capitalists, senior executives and corporate partners in London this week.
The start-ups pitching were part of the first batch of companies to come through Barclays' Accelerator programme, in partnership with start-up organisation TechStars.
Barclays Accelerator is a three-month intensive start-up programme designed to support new businesses "deliver their breakthrough innovations in FinTech", said Barclays.
The programme launched in June when the 11 successful start-ups joining the programme were unveiled, picked from hundreds of applicants globally. These businesses have spent the last three months developing and refining their business models, receiving expert mentoring and advice, and "driving to customer traction", Barclays said.
Those pitching demonstrated, said Barclays, how they had gone from "building from a single product to delivering a platform", had taken onboard new clients, had created new jobs, and how they had built a new network of contacts.
Ideas ranged from a new credit scoring system to a new peer-to-peer lending platform that "will revolutionise the home-buying process".
Some have worked with Barclays services to develop their technology. One company, Tryum, has capitalised on exclusive access to the Barclays Pingit mobile payments API, to look at how it can integrate Pingit into its customer engagement platform at point of sale. And Dopay is working with Barclays Egypt, piloting a banking solution for those who do not currently have a bank account.
Derek White, Barclays chief design and digital officer, said: “These businesses are delivering disruptive technology with fresh solutions to challenges faced within financial services."
Over the next three years, Barclays and Techstars have committed to working together to offer up to five different accelerator programmes.
The 11 start-ups in the first Accelerator programme
Aire – An alternative credit score for people who are incorrectly assessed due to no existing credit history. Aire enables "fair access to credit".
ClauseMatch – Providing a platform for negotiation and management of smarter contracts.
Crowdestates – A peer-to-peer platform that cuts the cost of borrowing and gives savers a better return than the alternatives.
Dopay – "Banking for the unbanked".
Glimr – Allows retailers to collect offline shopping data and use it for online marketing.
Gust – A mobile and wearable payments specialist, creating "compelling" customer experiences using RFID wristbands.
Market IQ – "Turning prediction science into business results".
NoviCap – Allowing businesses to turn outstanding invoices into cash.
Squirrel – A technology platform that enables people to regain control of their finances. "A financial concierge for the people".
Tryum – Helps retailers build personal relationships with their customers by "delivering brand experiences based on who their customers are and what they love".
Vieweet – A "new and exciting way of viewing properties from the comfort of your home".