INV Fintech, Bank Innovation’s sister accelerator, has announced its sixth accelerator class, which begins this week with six unique startups seeking to revolutionize financial services.
The six startups were selected for participation after a rigorous review process by INV Fintech and its partners, which include Fiserv, TIAA, BB&T, Standard Bank of Africa, and Texas Capital Bank. The accelerator includes dozens of mentors and VCs, as well.
Companies were selected from applications by startups from around the world. The startups are:
- Avocado Payments’s software allows small businesses and merchants to accept Apple Pay & Google Pay without the need for new payment hardware. Merchants can use any internet-connected device to accept payments as their register, and/or activate accounts for an unlimited number of salespeople.
- Budgit is an intuitive budgeting platform that helps banks drive loyalty and deposits. Budgit helps its users save for financial goals no matter how big or small, and allows banks to earn revenue while helping customers succeed financially.
- Community Capital Technology has built a loan marketplace for financial institutions to more efficiently buy and sell loans, and join participation loans, regionally or nationwide — that effectively bypasses Wall Street.
- Kapitalwise powers deeper relationships between financial institutions and their customers, offering personalized recommendations and helping people set and achieve financial goals. Using the power of machine learning and predictive analytics, KapitalWise’s solutions can uncover opportunities for savings and investing for FIs and their customers.
- Operant.AI is an AI-powered debt collection intelligence platform. The company uses machine learning to better personalize debt collection to increase repayment rates and improve customer experience.
- Stakana Analytics is a banking analytics tool that enables banks and credit unions to understand and predict their customers’ needs. Stakana’s AI is built to increase retention, marketing productivity, and enable better-targeted marketing.
“We are so excited about this new cohort,” said JJ Hornblass, INV Fintech’s principal. “We’ve mentored more than 20 companies so far, and we see great promise in these new startups.”
INV is a virtual accelerator, allowing it to host companies from all over the world. Each company will be mentored by INV and its partners for about five months.
“Our goal is not just to facilitate productive business interactions between our partners and startups, but to meaningfully work with each startup toward better, more-scalable and more-substantial results,” Hornblass said. “We are here to revolutionize global financial services, and we are thrilled to pursue that goal with the startups joining our spring 2018 class.”
INV startups also demo at members-only events held in conjunction with Bank Innovation. In 2019, there will be two of these events, one on the East Coast and another on the West Coast. A further cohort of Associates, junior members of the class, will be announced soon.