AWS launches new fintech accelerator program

image of AWS at Collision, 2018 | AWS and NVIDIA

Announced at the Collision Conference, AWS has launched its AWS Global Fintech Accelerator program created in partnership with NVIDIA.

The first-ever cohort will select 150 fintech startups harnessing the power of AI and ML technology from across North America, EMEA and Latin America.

The accelerator program is dedicated to helping jump start early-stage fintech startups that are leveraging AI and ML to innovate financial services. This six-week program will give startups the opportunity to receive direct mentorship from top-tier industry players and investors, access to specialized resources and new technologies enabling fintech innovation and partnership opportunities with investors and advisors. Additionally, the selected startups will receive up to $25,000 in AWS Activate credits to build upon their products and services.

The top 15 fintech startups will be invited to present their products and services at the end of the program, to a curated list of potential investors and customers on a Demo Day and will receive up to $75k in additional AWS Activate credits.

Applications for the accelerator are open as of Wednesday and will be accepted until August 14.

Howard Wright, VP and global head of startups, said: “We are making big bets on the potential of generative AI to significantly change every customer experience out there, especially as it relates to financial services.

“In the long term, we expect generative AI to usher in the era of self-driving money, when every consumer with a smartphone can have access to an affordable, trusted financial advisor that will help them improve their financial health. These solutions will leverage what the cloud does best: it democratizes access for everyone.”

Sam Edge, global head of fintech for startups at AWS, said: “More and more consumers want a future when access to finance is cheaper, greener and decentralized.

“Arming fintech startups with powerful AI and ML tools will unlock new opportunities for them to reach and delight these ever-demanding customers – that is the goal of this program.”