FIS™ (NYSE: FIS), a global leader in financial services technology, and The Venture Center have announced the 10 startup companies selected to participate in the 2017 VC FinTech Accelerator, now in its second year.
- FIS has launched the FIS HiPo Network, a collection of high potential, early stage fintech companies, including recent graduates from the VC Fintech Accelerator – Empowered by FIS.
- The initial group of HiPo Network firms include Akouba, Bleu, Flutterwave, Fundseeder Hexanika, and LumoXchange
- FIS, The Venture Center™ and the Governor of Arkansas announce the dates of the 2017 VC Fintech Accelerator powered by FIS; application deadline February 5, 2017; program start May 8, 2017
JACKSONVILLE, Fla., December 8, 2016 – FIS™ (NYSE: FIS), a global leader in financial services technology, today announced the launch of a network of early-stage fintech companies with direct applicability to the financial services ecosystem served by FIS. The FIS HiPo (short for “high potential”) Network is a collection of firms that have demonstrated substantial promise in the development of new tools and technologies that deliver purposeful innovation for our clients around the world.
“FIS has a responsibility to help our clients stay competitive today, while remaining cognizant of the rapid changes taking place in the financial services industry. The FIS HiPo Network expands the innovation strategy for our firm and has been developed to bring the realization of new innovations to market in an efficient and practical manner,” said Gary Norcross, FIS president and CEO.
The first members of the FIS HiPo network include six participants from the 2016 VC Fintech Accelerator.
- Akouba – an online platform that enables improved processing of small business loans for regional and community banks
- Bleu – a provider of Bluetooth-enabled wireless solutions to bridge the gap between the physical and the digital world, including merchant POS and retail sales management tools
- Flutterwave – an infrastructure provider that enables merchants, payment service providers and Pan-African banks to accept and process payments on any channel
- Fundseeder – a data and performance analytics, risk management, trading verification and investor connectivity platform for both regulated and unregulated traders.
- Hexanika – an end-to-end data management and reporting solution harnessing big-data for tackling compliance and regulatory requirements for banks. The software brings cost savings up to 40% to the regulatory reporting process and improves accuracy and consistency in reporting.
- LumoXchange – creator of the world's first localized currency exchange marketplace for global peer-to-peer payments
The FIS HiPo Network is open to fintech companies that have the opportunity and interest to meet burgeoning needs of the financial institutions that FIS serves and to develop the key integration points between technology platforms to facilitate efficient innovation. The six HiPo Network companies will be participating in FIS’ annual client conference FIS Connect April 10-13, 2017 in Orlando, Fla.
Maf Sonko founded LumoXchange in 2015 and serves as the startup’s CEO. He previously worked for six years at PepsiCo, first as a warehouse strategy manager then as a senior manager in supply chain operations. From 2008-10, Sonko was a systems engineer at Swisslog Logistics Inc. in Virginia and, from 2007-08, he was an industrial engineer for Milliken & Co. of South Carolina. Sonko has a master’s degree in business administration from the University of Manchester and a bachelor’s degree in industrial engineering from North Carolina State University.