PriyaPatelFIS, a financial services technology firm, has launched the 2024 FIS Fintech Hangout Series. The program aims to connect FinTech startups, investors, financial institutions, FIS experts, and participants from the FIS Fintech Accelerator Program. The series will offer meaningful conversations, share best practices, and showcase the work of participating FinTechs. The program started with a deep dive into risk and compliance, which FIS sees as one of the biggest barriers to entry for prospective FinTechs. FIS also plans to open applications for its 12-week accelerator program in March, which helps FinTechs refine their product models and scale their operations.
This launch comes at a difficult time for startups, as funding for newer companies continues to be tight. Venture capitalists have an accumulated pool of $311 billion in unspent cash, and funding for the tech sector is slowing down. Startup failures have also doubled, with companies like Hopin and Convoy going out of business last year. FIS’ efforts aim to support and empower FinTech startups during this challenging period.
Visa also recently announced its support for accelerator and VC firm Plug and Play’s entrance into the Canadian FinTech market. Similarly, Plug and Play connects startups, corporations, VC firms, universities, and government agencies, and offers corporate innovation programs and startup accelerator programs. These initiatives further highlight the growing importance of collaboration and networking for the success of FinTech startups.
