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Fintech has rapidly exploded over the past couple of years. Several Fintech startups have emerged to feed and develop the trend. Fintech has been seen to revolutionize how we approach banking and many people are moving from the old banking ways to more tech-savvy ones. This has led to the rise of Fintech accelerators throughout the world.

Since my last LinkedIn post “Reinventing The Banking Sector” I started to dig deeper into a fact that more banks want to explore accelerator and incubator model to accelerate their business.

Let’s start at the very beginning

Startup accelerators assist entrepreneurs in their journey toward building and running successful companies. The work accelerator and incubator have been used interchangeably to mean the same thing in various forums. However, the main difference between the two is the time they take with entrepreneurs. Accelerators usually take entrepreneurs through programs lasting from three-four months with some company ownership structure while incubator programs generally last more than accelerator model and months with much less strict KPI’s and goals for your company.

Below are a few of the Fintech accelerators and incubators you may come across.

Fintech Innovation Lab

Located in New York, London, and Asia Pacific, this fintech incubator offers a twelve-week mentorship program. Created by Accenture, the program gives entrepreneurs the opportunity to develop and prove themselves alongside the world’s leading banks.

Startup Bootcamp Fintech

This accelerator claims to be the world’s leading accelerator focused on financial innovation. Their 3-month program helps entrepreneurs with free office space, mentorship, global network access, and funding. They also offer money for the team to relocate, partner services and in return, ask for equity stake in the entrepreneur’s business. Startup Bootcamp has fintech programs in Singapore, Mumbai, New York, Amsterdam, Mexico City and London. Check out for current open applications.

Level39

Located in London, this fintech accelerator claims to be the largest in Europe for finance, cyber-security, and future cities technology. They have a tailored curriculum, expert mentors, and events aimed at supporting entrepreneurs. Level 39 is wholly owned by the Canary Wharf Group and was launched in 2013. It has had over 90,000 visitors and hosted over 1000 events since its inception.

Barclays Accelerator

Located in London, New York, Cape Town and Tel Aviv, the Barclays Accelerator focuses purely on Fintech startups. It has a 13-month program that is designed to give the enrolled entrepreneurs access to the bank’s network and mentorship from some of the smartest people in the Fintech world.

Citi Fintech Innovation Lab

Located in Tel Aviv, aims to accelerate innovation through comprehensive programs and partnerships for entrepreneurs. They started their accelerator program as a way to participate in the tech ecosystem and first launched in 2013. They have launched 3 classes so far, graduating 33 startups from their four-month program.

Copenhagen Fin Tech

In 2016, Denmark opened its own Fintech Hub as a joint initiative of the Danish Banker’s Association, the City of Denmark and Financial Services Union Denmark in a bid to spur innovation in the Nordic capital.

Copenhagen Fintech is a non-profit organization with partners from different sectors. It is member-driven and aims to connect its entrepreneurs with regulators, policy-makers, educators, researchers, policy-makers and Fintech companies both in Denmark and abroad.

Conclusion

With all these accelerators and incubators situated all over the world, Fintech is sure to grow and develop even more than we can imagine. For entrepreneurs with Fintech solutions but no funding and in need of mentorship, these Fintech accelerators are a good place to start their journey to build their successful businesses.

This blog post originally appeared on LinkedIn.

Jernej Dekleva
(@jernej)