InvestCloud Inc. is a global FinTech firm, has launched its first financial technology accelerator and incubator. Particularly, this is an InvestCloud Innovation Center, with Pacific Design Center headquarters in Los Angeles.
The InvestCloud Innovation Center enables teams from banks, wealth managers and other financial services firms to undertake ‘residences’ to accelerate the development of new apps through access to InvestCloud’s full technology platform, in collaboration with a team of InvestCloud mentors. Residences are also available to FinTech startups looking to build their businesses using the InvestCloud platform.
The Innovation Center echoes InvestCloud’s beginnings in a Californian garage, when a team of six designed, built, and shipped its first product, PlayMyMillions, in just six months. Teams working at the Center will follow this approach, increasing the speed of delivery for digital projects and enabling large financial institutions to work with the flexibility of a startup, while affording massive technology leverage to startups and established firms alike.
John Wise, co-founder and CEO of InvestCloud, said, “The purpose of the Innovation Center is simple: to help both our clients and startups to deliver a new generation of digital solutions whilst eliminating the risk of development and decreasing the time to market.”
Participants will ‘show and tell’ their work on a weekly basis to demonstrate progress to InvestCloud and their own organization. Companies working at the Center can also create sub-teams from their own organization, or utilize InvestCloud’s staff and external partners.
The Innovation Center will also undertake research and investigation projects into the behaviors of high-net-worth individuals and other audience segments during their customer journey. This insight will be shared with participating organizations to better inform the creation of customer experiences.
InvestCloud offers the best environment, incorporating beautifully designed spaces with the highest level of security needed for the financial markets, to create a place where innovation and collaboration occur. In addition, new teams have access to all of our distribution partners and alliances, as well as the ability to connect with our clients, in order to promote and sell their financial apps – another unique approach.