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June 23, 2016updated 22 Sep 2016 2:34pm

How IBM, SAP, Oracle, SAS & Microsoft are helping fintech start-ups to disrupt FS

List: Does business come first for vendors or is support a kindness?

By James Nunns

Technology vendors have long pushed into markets and created waves of disruption that threaten to overwhelm the inhabitants.

The financial services industry is one of the areas that is facing a constant tidal wave of new technologies, but it is also facing an onslaught from fintech companies that are using the tech to effectively undercut banks with customer focused services.

Technology has played an important role in the disruption of financial services and vendors have been proactive in providing a significant amount of support to the fintech start-ups.

CBR highlights five vendors that are helping to nurture fintech talent.

 

1. IBM

IBM has a long history of backing technology initiatives such as Linux, OpenStack and others, and now the company is supporting fintechs through things like the ING FinTech Village.

As one of the partners of the programme, which essentially aims to help train and mentor fintechs, IBM provides its own expertise to help nurture the next generation of disruptive companies.

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Big Blue has also partnered with Deutsche Bank with its innovation lab for financial technology start-ups in Silicon Valley.

In addition to this the company has opened up a number of Bluemix Garages around the world, including London. The Garages have various different functions but one of them is to help accelerate the design and development of blockchain applications.

2. SAP

SAP has launched a global program called Startup Focus that aims to help promising start-ups typically in the big data, predictive, and real-time analytics space to build applications on the SAP HANA platform.

Increasingly this program is being used by fintech companies that are aiming to use big data technologies to disrupt the financial services market.

The company also runs the FinTech Innovation Lab which is an annual 12-week program designed to give early stage and growth stage fintech companies direct access to their target FS customer base.

Currently 14 banks participate including Bank of America, Barclays, Capital One, Goldman Sachs, JP Morgan and others.

3. Oracle

Oracle has taken the approach of helping banks with their fintech problems by leveraging its ERP, cloud, and industry-specific offerings.

The company is launching an offering in this space to address some of the problems with fintech accelerators, the idea is that this will help banks to grow their fintech businesses.

Basically the thinking is that banks struggle with the software development side of their fintech accelerators so Oracle is stepping in to solve the problem.

Big Red’s approach is very much technology driven help rather than through the mentoring position.

4. SAS

SAS has become one of the leading technology vendors that are supporting the growth of fintech companies.

One of the ways that it is helping is with the launch of a fintech incubator space in London.

The company is giving start-ups free access to big data technology assets and industry expertise, with a promise to slash the time taken to hone and test applications by up to 50%.

Although start-ups have access to this free expertise and technology, there is a catch. Those who take this path will be expected to enter into a revenue-share arrangement with SAS on commercial application.

5. Microsoft

Microsoft has been proactive with partnerships with it comes to supporting fintech initiatives, the company is collaborating with the likes of Deutsche Bank to launch FinTech Labs in Berlin, where Microsoft is providing technology experience and resources.

This lab is part of a five year plan called Strategy 2020 which will spend just over $1bn on digital initiatives by the bank.

A strategic partnership with Nucleus Software has also been signed to offer the latest lending software on the Microsoft Azure cloud.

Additional efforts have seen a partnership with FS-ISAC, the Financial Services Information Sharing and Analysis Centre, to fight cyber crime in the financial industry.

The company also has a partnership with the Canary Wharf-based fintech accelerator Level39.

Furthering its initiatives is Microsoft Ventures, a coordinated effort that offers several programs and tools for start-ups including a global Seed Fund and dedicated accelerators in London and Dublin.

Perhaps due to its size, Microsoft has formed one of the farthest reaching fintech support programs of any company.

What is clear from looking at the various companies is that while they want to help these fintech companies, the priority remains their own technology. This is understandable as they are after all, businesses that need to make money.

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