Quotip Selected for Accenture’s 2016 FinTech Innovation Lab London
Author: Stefan Kyora15.01.2016 10:50
For the second time a Swiss startup has been selected for Accenture’s FinTech Lab. This time its Zurich-based Quotip, developing a new kind of management tool for structured investments.
The London Lab, launched by Accenture in 2012 and now in its fourth year, is a collaboration between Accenture and 16 leading financial institutions. The 12-week mentoring program helps fintech entrepreneurs accelerate product development while giving the participating banks exposure to the technologies they need to stay ahead. Accenture will return to Canary Wharf’s Level39 to host the FinTech Innovation Lab for the fourth consecutive year. Level39 continues to be a leading hub for fintech innovation, providing access to a curated fintech ecosystem and proximity to many of the participating financial institutions.
In total 15 start-ups haven been selected. They will be partnered with senior-level bank executives who will help them fine-tune and develop their technologies and business strategies. Six of these start-ups will ultimately be selected to present at an Investor Day in April 2016 in front of venture capitalists and senior financial-industry executives.
Among the selected company is one Swiss startup: Quotip. The company develops a management tool for structured financial products that provides wealth managers with services in three key areas: product idea generation, request for quote and audit/life-cycle management. Quotip’s machine-learning-based algorithm, sell-side independency and full coverage of the value-chain help to reduce product complexity whilst increasing workflow efficiency and adhering to upcoming regulatory frameworks.
With the tool Asset Managers (buy-side) can generate better investment ideas without being reliant on ideas pushed by the issuers. They will be offered with market insights and analytics captured by Quotip from other market participants. All of this will increase their service quality and customer retention. „Asset Managers will also experience an increase in efficiency as Quotip consolidates all necessary steps from origination to maturity of a structured product without any frictions between processes and data”, says David Buehlmann co-founder of the company.
Issuing Banks (sell-side) will on the other hand benefit from an increase in efficiency due to a consolidation of various communication channels and new ways of collaboration due to an integrated team functionality. Also they will see a decrease in “window shopping” requests and more requests for trading as the buy-side now has a tool for finding the best investment idea without using sell-side resources.
The tool is developed with a lean approach. “So far we did already talk to several potential buy-side clients and our prototype is reflecting most of that feedback. In parallel we are in talks with potential investors for successfully scaling up our operations if the feedback round will be successful and we move on to a more performance based testing”, explains Buehlmann.
The selection for the Accenture Fintech Lab is important for the next steps of the start-up. Buehlmann comments: “The Accenture programme allows us to now validate our business proposition with sell-side banks and their willingness to add liquidity to our platform.”