Barclays to launch largest fintech accelerator in Europe




Philip Hammond has announced that next month Barclays will launch the largest fintech accelerator of its kind in Europe, which will provide over 500 workspaces for start-ups.

In a speech at the inaugural International FinTech Conference in London, the chancellor of the exchequer revealed that HSBC and Tradeshift have confirmed that their new ‘procure-to-pay’ product will go live in July.

This product will allow businesses to manage their entire supply chain and working capital requirements in one place, from any device.

The chancellor also recounted how over the last few months he had visited Barclay’s fintech accelerators in Cape Town and Mumbai.

Mr Hammond said that technologies – such as artificial intelligence, robotics, big data analytics, biotech and fintech – are the drivers of what has become known as the fourth industrial revolution.

“Help us keep the UK at the forefront of the fintech revolution,” he added.

“Help us build a truly world-beating new tech sector.

“Let your ideas, your apps, your services, your equity demonstrate what’s really possible when government, business and regulators all pull in the same direction.

“Working together, to build the world’s greatest fintech hub.”

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