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Learning from a London accelerator/Fintech Innovation Lab visit

On Monday 4th April CEO Colette Cohen and Luca Corradi, Director Innovation Network, visited the Accenture’s FinTech Innovation Lab in London’s Canary Wharf.

The focus here is on startup banking and insurance technology, but we believe there are some lessons for the oil and gas industry.

“I think the key findings for us were the importance of involving the industry from the very beginning and the constant interaction with the customers,” Luca Corradi said.

“It’s really valuable to us to see how the process works in different industries. FinTech involves coders and programmers, with oil and gas it would involve robots and sensors, so our approach needs to involve hardware development.”

FinTech Innovation Lab has raised over $386m to date, as its process produces companies which are very attractive to investors.

“The final small number of companies that make it to the final round via several steps of rigorous selection, have been through a comprehensive process of mentoring and access to the customer experts, influencers and decision makers, and end up being attractive businesses which then have incredible access to private equity firms and other investors,” Luca said.