(LONDON)

Barclays has opened Europe’s largest innovation hub for FinTech startups.

The Rise initiative – launched in Shoreditch, London –  brings together a selection of the world’s best young companies working in the most exciting part of the financial industry. Alongside 40 plus FinTech startups, Rise London will be home to corporates and experts in the venture capital field. It will host hackathons, networking events and experiential workshops.

Jes Staley, Barclays Group Chief Executive, said:“We believe that technology must be a core competency of a global financial institution, and we intend to be a leader in the industry.  Last week we announced the creation of 750 new jobs in our UK technology centres.

“FinTech startups are at the front of the technology wave that is changing our industry. Through Rise, we glean important insights; we can actively experiment with emerging technologies, and we can spot early trends and new markets as they form. This allows our employees, customers and clients to do things faster, better and at lower cost.”