Fintech Innovation Lab 2015: 7 UK startups set to shake up the financial sector

Interest in the fintech community is growing fast, with a report from Accenture claiming that Europe has led the way as investments trebled last year to £8 billion globally.

Some of the hottest new startups in the field got the chance to pitch to investors at the third annual Fintech Innovation Lab last month, showcasing a range of new technologies and business models.

Here are some of the UK's finest...

Atsora
Image: Atsora

Atsora

Atsoraoffers financial firms tools to support their interactions with small businesses, centred around its online and mobile application for business planning, monitoring cash-flow and growth forecasting, named Momentum.

Cytora
Image: Cytora

Cytora

Cytora collates huge volumes of unstructured, web-based data to provide its customers operating in volatile, emerging or complex markets with real-time geopolitical risk assessments. Its service allows users to customise their individual risk assessment to capture information relevant to their businesses, offering alerts for immediate updates when conditions suddenly change.

For example, it was able to alert subscribers to unrest in Ukraine last year, ahead of mainstream media coverage in the UK.

Duco

Duco

Ducohelps financial services firms control and manage complex data via its online reconciliation service, Duco Cube, enabling non-technical staff to identify discrepancies in trades, transactions or reference data across different data sets, within minutes.

Pontus Networks

Pontus Networks

Pontus Networks helps businesses increase the performance of their computer systems PontusVision, allowing bank IT departments to control the configuration, deployment, and monitoring of applications. Its flagship product, PontusVision Thread Manager, enables different types of business software to run more efficiently and nearly three times faster.

Ripjar
Image: RipJar

Ripjar

Data analysis firm Ripjar enables offers real-time social media monitoring and analysis, using proprietary natural language processing, deep learning algorithms and visualisations, The firm’s platform allows companies such as banks to make sense of the growing number of external data sources.

Torusware
Image: Torusware

Torusware

Torusware enables businesses to increase the processing speed of their IT systems, such as trading systems, which require exchange information in nanoseconds. Torusware ensures low latency responsive times during critical periods - such as when exchanges open or close -which involve unpredictable high-load at specific times.

xWare42
Image: xWare42

xWare42

xWare42's, xPay, enables banks to provide customers with information about their purchases using bank account and payment data. This means adding information such as receipts, addresses, opening hours, service numbers and other details about the retailers to a standard bank statement to provide a more helpful picture of purchases while, at the same time, allowing banks and partner retailers to offer personalised discounts and encourage further transactions.

Copyright © 2015 IDG Communications, Inc.