Fintech Accelerators: An inside look at top banks' accelerator programs — how they work, what success looks like, and what it means for the future of financial services

Executive Summary

To fuel digital transformation, a number of banks have launched fintech accelerator programs to get access to and stay on top of new innovative solutions.

Three Key Questions This Report Will Answer:

• Why are accelerators beneficial for banks?
• What do the accelerator programs of three top banks—Wells Fargo, Barclays, and Citi—look like?
• What are the key takeaways from those programs for others looking to launch accelerator programs?

WHAT’S IN THIS REPORT? In this report, Business Insider Intelligence profiles fintech accelerator programs at Wells Fargo, Barclays, and Citi, based on discussions with key figures at each bank. We detail how the accelerators provide guidance to help startups develop their solutions, and highlight notable alumni startups from each program to reveal insights on how both fintechs and the banks benefit from their participation. Finally, we examine the possible effects of the coronavirus on each accelerator program, and how the banks can still ensure effective programs moving forward.