A number of major banks have launched fintech accelerator programs in recent years, likely in response to the need to introduce new digital financial services.
In accelerator programs, banks provide startups with access to mentorship, development resources, and sometimes funding opportunities. In return, banks can leverage the innovative solutions that fintech startups offer to support their own digital transformation efforts and remain competitive.
In 2014, US-based bank Wells Fargo, which spends billions of dollars on technology initiatives annually, launched the Wells Fargo Startup Accelerator.
In this Accelerator Snapshot, Insider Intelligence details the goals, operations, and notable participants of Wells Fargo’s accelerator program.
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