IA’s Engine expands its international reach and welcomes five firms to its innovator programme

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Five new FinTech firms, revealed at today’s EmTech Global event, have been selected for the Engine Innovator Programme, part of the Investment Association’s (IA) FinTech accelerator and innovation hub for the investment management industry – as the accelerator grows its international network, announcing new partnerships with Israel and Switzerland. Engine also celebrates its fifth anniversary this year.

EmTech Global, Engine’s annual tech conference, is being held today at the Guildhall in London in partnership with the City of London and the Department for international trade. Paul Scully, Parliamentary Under-Secretary of State for Tech and the Digital Economy and Minister for London, is giving the keynote speech at the event this year.

The following firms have been chosen by the Engine Advisory Panel to join this year’s cohort, which during the six-month programme, will receive support and mentoring and will have the opportunity to put their technology solutions in front of the investment management industry:

  1. Maanch is an award-winning technology company and B-Corp that empowers forward-thinking asset managers and investors to manage, analyse and confidently report on their ESG engagement data via their digital stewardship platform – The Maanch Engagement Tracker. Maanch’s clients collectively oversee £200 billion in AUM.
  2. Clausematch uses automation to manage documents that require internal governance, incorporate regulatory obligations and communicate changes to requirements to employees across the organisation more effectively.
  3. Door Ventures provides a digital platform where all information for Due Diligence Questionnaire’s, Request for Proposals and other fund and manager research can be provided, accessed, managed and updated universally.
  4. moneyinfo is a fully branded client portal and digital relationship management platform that enables firms to take client engagement to the next level, by sharing encrypted messages and documents, portfolio aggregation and reporting, and digital factfinding & automated workflows to support onboarding and annual review processes.
  5. 2RSquared has developed LAB, a business intelligence technology for the investment industry, digitising and linking product development and client interaction, enabling hyper-customisation in quantamental, indexing, ESG and wealth offerings. LAB embeds investment domain knowhow in a no-code platform putting the power of data in the hands of the business user.

Engine has also signed Memorandums of Understanding with Israel and Switzerland, further building on its existing global FinTech network, which includes Australia, Kenya, Luxembourg, Abu Dhabi, Dubai, Hong Kong, Qatar, Japan, Saudi Arabia and Singapore. The partnerships in these new jurisdictions will help to facilitate the expansion of FinTech firms based in the UK and these countries to each others’ markets and build relationships between FinTech firms and relevant financial institutions.

Chris Cummings, Chief Executive of the Investment Association, said:

“Innovation is truly crucial to the competitiveness and success of the investment management industry globally, and in the UK. Today’s event marks the fifth anniversary of Engine, a truly forward-looking initiative, which has seen the investment management industry engage with over 150 buyside FinTech firms, whose solutions have the potential to improve the services we provide to the millions of people we serve across the UK.

“I am also pleased to welcome Israel and Switzerland to our network of international partners. Israel and Switzerland share our agenda to develop best in class technology and I welcome the opportunity to work with them, as well as our other global partners, to move the dial forward for the industry.”

Paul Scully, Parliamentary Under-Secretary of State for Tech and the Digital Economy and Minister for London, said:

“The UK is the second largest global centre for FinTech, and in order to see the number of FinTech firms in the UK continue to grow, we must work together to create an environment that further promotes innovation and forward-thinking. Nurturing the next generation of technological solutions through FinTech accelerators, such as the Investment Association’s Engine, will allow the investment management industry to continue to provide a best-in-class service to people across the globe. Today’s conference provides an important opportunity to discuss the future of the sector, the key challenges and opportunities ahead of us and establish new ways of working collaboratively.”

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