Self-sovereign digital ID and funds platform Nuggets is amongst 20 fintech startups chosen for the 2021 cohort accelerator program of Accenture’s FinTech Innovation Lab London, with the aim being to assist them fine-tune and develop their applied sciences and enterprise models.
In line with an announcement from Accenture, Nuggets and the 20 others have been chosen from an inventory of 450 candidates whose works embrace efforts to proffer options to some neighborhood issues in varied domains corresponding to local weather threat analytics, safety, inexperienced finance, debt-management platforms, information threat, utilizing AI to take away bias, and sustainable investing, amongst others.
Throughout the cohort program, which is already underway and is anticipated to run until March 31 2021, the startups will profit from the experience of executives of about 40 UK firms, amongst them some main firms with a vested curiosity in efficient digital ID, together with NatWest, Lloyds, HSBC, and JP Morgan, the announcement talked about.
The inclusion of Nuggets to the cohort program, Accenture famous, depicts the significance of self-sovereign digital ID know-how particularly in a context marked by a spike in buyer information privateness issues and the falling safety requirements and fraud threats linked to digital funds. The transfer will even assist Nuggets set up helpful contacts and connections with some decision-makers who matter in order to reinforce the visibility of their know-how.
Nugget’s inclusion, as per the assertion, thus underlines the assumption that self-sovereign digital id know-how is an creative resolution that may be employed to verify a number of the societal, monetary and sustainability issues in the midst of the 12 months.
Seema Khinda Johnson, co-founder and COO of Nuggets, and acknowledged senior feminine chief in fintech, stated Nuggets inclusion within the cohort is a good alternative to take advantage of.
“This comes at a great time for Nuggets as we start to scale the business. Being accepted into the programme is a tremendous opportunity that will enable us to showcase our technology to every bank and financial institution who are all looking for a fast, safe path to innovation, especially when it comes to privacy,” she said, including that they’re excited to work with Accenture “…to help banks and financial institutions explore the benefits of SSID whilst maximising data privacy and security for business and consumers.”
Graham Cressey, FinTech Innovation Lab program director, Accenture UK, spoke of the significance of the cohort: “If there’s anything we’ve learnt from such a challenging time, it’s that there’s never been a greater need for purposeful organisations to make a difference at speed. With a customer-first outlook and innovative capabilities, fintechs may hold the key to quickly helping society on its road to recovery, making them valuable partners in the industry,” he stated.
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