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U.K. lender Barclays has opened a new innovation center in Shoreditch, London, for its in-house banking and technology teams, as well as more than 40 co-located financial technology (
The announcement on Tuesday claimed the new Rise facility in east London is the biggest
The regular events are designed to help the 40
The site forms part of Barclays' Rise program, which has so far signed up 70-plus firms exploring blockchain, big
According to Jes Staley, Barclays Group chief executive, the bank wants to be a technology leader. It announced the creation of 750 new jobs in its U.K. technology centers just last week.
"We believe that technology must be a core competency of a global financial institution," he said in a press release on Tuesday.
"Through Rise, we glean important insights: We can actively experiment with emerging technologies, and spot early trends and new markets as they form. This allows our employees,
Barclays' head of innovation, Michael Harte, wants to tap into the "vibrant community" and harness "the agile and disruptive" nature of these ventures.
"For us, the more vibrant we make the
The new Rise offices at 41 Luke Street in London hosted 11 pitching firms Wednesday as part of a Demo Day for the second cohort of
Starting at 10.30 a.m. Wednesday morning, and running for two hours, the 11 start-ups were expected to pitch their ideas in the new facility to an audience of investors, bankers, technologists, journalists and others in the hope of winning further backing to develop their ideas.
The 11 pitching start-ups, and their self-described offerings, were as follows: