Innovation Happening NOW in Financial Services Technology
Last week, Liveoak was invited to participate in the launch of Barclay’s RISE Fintech innovation center in London. RISE is the largest Fintech co-working space in Europe with the goal of bringing together the world’s best and brightest startups and experts to create the future of financial services. Barclays has implemented the RISE financial technology communities in seven of the world’s leading financial technology centers in Europe, Africa, Asia and North America. Barclays is behind this venture so that they can participate in the vibrant Fintech community and have a first look at new technologies that will benefit their customers, clients and employees.
Jess Staley, CEO of Barclays Group considers Barclays to be a technology company (but with a balance sheet and regulators). During his introduction, he talked about how Barclays Bank is widely known as the first bank to offer the ATM machine in 1967. At the time, people predicted that bank tellers would be replaced by the ATM machines; but in fact, quite the opposite has happened. The technology advancement provided speed and convenience to banking customers; however, with more complicated transactions, banking professionals remain in the game. By using the latest technology, they are able to work smarter and faster for customers and stakeholders.
The image below is the moment just after Jess Staley cut the ribbon at the new RISE London Shoreditch location. #HomeofFintech
Our company, Liveoak Technologies participated in the very first Barclays Fintech Accelerator and launch of RISE in New York City in 2015. We can speak first hand about how dedicated Barclays is to technology and innovation. Liveoak came out of the accelerator program with first hand knowledge, extremely connected mentors, incredible connections, and a five year global services procurement contract with Barclays. Having the support of Barclays and the RISE community has given Liveoak the opportunity to provide web conferencing and customer onboarding solutions for several divisions within the Barclay’s global enterprise, as well as many opportunities (and contracts) with other leading financial services enterprises around the globe.
One of the most exciting things about being invited to participate in the launch of London’s RISE was speaking alongside Jess Staley (Barclays Group CEO), Ashok Vaswani (Barclays UK CEO), Michael Harte (Barclays Head of Innovation) and a handful of other amazing individuals.
Barclays Head of Innovation, Michael Harte is one of the masterminds behind this incredible Fintech initiative. Michael and his team are change catalysts with their hands on approach and involvement in the Fintech start-up community. Michael describes RISE as “an open innovation platform to engage Fintech startups with customers and clients to invent new business solutions. Our vibrant community taps into the agile and disruptive nature of these ventures. By matching Fintech companies with the business challenges that we face as a diversified financial services firm, we drive customer and shareholder value”.
We have been extremely impressed with level of dedication and professionalism from the entire Barclays innovation team. We would like to personally recognize Rich Thompson and Sohel Patel, who have both been an incredible resource and guiding light for Liveoak Technologies.
Cheers to to the entire Rise team for creating the perfect formula for innovation success!