Wells Fargo Startup Accelerator Adds Two Early Stage Companies to Portfolio
08 May 2018 - 10:30PM
Business Wire
Alpharank and Amicus.io offer innovative solutions for financial
services in the areas of data and charitable giving
Wells Fargo & Company (NYSE:WFC) announced today two early
stage companies – Alpharank and Amicus.io – as the latest startups
to join the Wells Fargo Startup Accelerator. The program also
recently doubled the amount of funding companies are eligible to
receive, bringing the total potential investment to $1 million per
company.
“Collaboration with outside companies plays a critical role in
how we will serve our customers and support team members in the
future,” said Bipin Sahni, head of innovation R&D in the
Innovation Group at Wells Fargo. “We’re committed to continued
expansion of the accelerator program as we transform the way the
bank reimagines the customer experience.”
Wells Fargo began the accelerator – a virtual, non-exclusive
six-month program – nearly four years ago to advance exploration in
emerging technologies such as analytics, cybersecurity, payments,
artificial intelligence and others, in pursuit of breakthroughs for
financial services. Companies are eligible to receive funding,
along with guidance from Wells Fargo business and technology
leaders in refining the launch of their ideas. To date, the Wells
Fargo Startup Accelerator has received nearly 1,800 applications
from innovative companies in more than 50 countries and now has 19
companies in its portfolio. Applications can be submitted
throughout the year at www.wellsfargo.com/accelerator.
Latest Wells Fargo Startup Accelerator Companies:
- Alpharank (Redwood Shores,
Calif.) builds Application Programming Interfaces (APIs) that help
companies uncover how customers influence each other’s behavior.
The startup uses a financial institution’s anonymized historical
transaction data to build a customer graph enriched with
transactional attributes.“We are thrilled to be part of the Wells
Fargo Startup Accelerator as we continue our mission to humanize
transactional data to help financial institutions build stronger
connections in their communities,” said Brian Ley, Alpharank CEO
and founder. “Word of mouth is often one of the most important
components of a company’s client attraction and retention strategy,
and we see enormous potential for the application of our technology
in the financial space.”
- Amicus.io (Charlotte, N.C.)
creates a modern, digital platform that supports charitable giving
by clients of financial institutions. It has designed the platform
from the ground up to integrate easily with existing systems and
business processes, bringing charitable giving to products banks
already offer, such as online banking, roundups, peer-to-peer
payment systems, and donor advised funds.“Americans today are
giving to charity in record numbers, and we see a clear opportunity
to create an experience that more easily allows people to align
their financial actions with their values,” said Cornelis Hoekstra,
CEO of Amicus.io. “Joining the Wells Fargo Startup Accelerator
gives us a big opportunity to examine new ways to weave generosity
into the fabric of customers’ financial lives.”
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.9 trillion in
assets. Wells Fargo’s vision is to satisfy our customers’ financial
needs and help them succeed financially. Founded in 1852 and
headquartered in San Francisco, Wells Fargo provides banking,
investments, mortgage, and consumer and commercial finance through
8,200 locations, 13,000 ATMs, the internet (wellsfargo.com) and
mobile banking, and has offices in 42 countries and territories to
support customers who conduct business in the global economy. With
approximately 265,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was
ranked No. 25 on Fortune’s 2017 rankings of America’s largest
corporations. News, insights and perspectives from Wells Fargo are
also available at Wells Fargo Stories.
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version on businesswire.com: https://www.businesswire.com/news/home/20180508005381/en/
Media ContactAllison Vennerberg,
415-222-4722allison.vennerberg@wellsfargo.com
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